Grosvenor Inns poised to grow

Grosvenor Inns, the pub and restaurant group, is close to acquiring four sites and is in negotiations on a further 10 locations, which will increase its total portfolio to 60 outlets.

The new sites will be split between one of the three retail brands - any of Slug & Lettuce, Bar Central or Hedgehog & Hogshead.

The expansion follows an 88% rise in pre-tax profits to £1.6m from a turnover up 39% to £14.6m in the financial year to 31 May. In the period, 10 new sites were acquired and four units disposed of.

The biggest brand, Slug & Lettuce, is currently being repositioned into a new format with a stronger café feel. This programme should be completed by October. In the results period, the new look helped raise food sales by 50% and wet sales 30%.

The Hedgehog & Hogs-head outlets are doubling to six units and a third Bar Central is due to open in Islington, London, near Christmas time.

• Regent Inns, the liquor-led pub retailer that is trying to take over Unicorn Inns, has announced that pre-tax profits for the year to 1 July are up 92% to £4.4m on a turnover ahead 44% to £22m.

The group now has 46 trading outlets, with a further eight under development and two under management agreement.