Gowrings to build on its BK growth
Gowrings, the fast food to motor dealership group, is considering expanding its restaurant division beyond its Burger King interests.
The group, which has 31 Burger Kings - 21 in the South and South-west of England and 10 in the Midlands - has plans for a further six restaurants costing £500,000 each. Two of these, in Hove, Sussex, and Birmingham, will open by early next year.
"We want to look at other franchise opportunities with known brands. We don't want to be the pioneers of something new," said chief executive Derek Coulson.
Growth in its restaurant division has outstripped that in its motor-related business, prompting a switch in its stock market listing category to the restaurants, pubs and breweries sector. In the six months to 30 June, operating profit for restaurants was up 25% to £516,000 on turnover up 39% to £12m.
