Food sales give Barracuda a boost

31 January 2007 by
Food sales give Barracuda a boost

Managed pub chain Barracuda Group has reported a 19% rise in turnover for the 12 months to end of September 2006, largely driven by an increase in food sales.

The company said its total turnover was £127.1m compared with £108.8m in the previous year, with food sales up 36.3% to £19.1m.

Barracuda said it opened 33 new pubs during the year, and plans to launch a further 30 in 2007. the company currently now operates 192 pubs and bars, under the Smith and Jones, Varsity, Barracuda Bar and Juniper Inns brands.

Mark McQuater, chief executive, said: "The business continues to drive forward as customers appreciate the distinctive and quality brands we have developed. We believe this is one of the strongest set of managed pub brands in the UK."

McQuater added that the "robust expansion programme" along with continued progress in strengthening margins and sales, should see growth of around 20%.

Formed in 2000, Barracuda is backed by private equity firm Charterhouse Capital Partners and underwent a £262m secondary management buyout in 2005.

Barracuda reveals £35m war chest and ambitions to double in size >>

Barracuda to open 12 pubs this month >>

By Kerstin Kühn

E-mail your comments to Kerstin Kühn here.

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