Hartford back in the black

London bars group Hartford moved firmly into the black in the past year, it said today, with sales in its core bars business moving ahead.

The group, which now operates only one restaurant - Canyon in Richmond, Surrey - said like-for-like sales for the core business were up by 1.3% for the 52 weeks to 25 September, but down by 0.7% overall.

Pre-tax profits were moving in the right direction, though, with 2003's £637,000 loss (before exceptional items) being turned into a £445,000 profit this time around.

Trading over Christmas was strong, with like-for-like sales up by 8.4%, up on the record performance recorded in 2003, said Hartford.

The profit was achieved despite a £73,000 loss incurred on the sale of its Dakota restaurant and £86,000 costs from buying and repositioning three new sites over the summer months.

At its bars in central London, Wimbledon and Canary Wharf, overall sales increased by 5.5%, with like-for-like sales 4% ahead.

Food and drink gross margins had also improved, said Hartford chairman Stephen Thomas.

At its 12 City bars, overall sales were 2.1% ahead of the previous year, driven by the acquisition of three new sites in June: Willy's Wine Bar in Fenchurch Street, Jamies Aldgate and Hodgsons Wine Bar in Chancery Lane.

Like-for-like sales were 2.8% down on the previous year, with the performance held back by two bars: Jamies Gresham Street, which had now been sold, and The Orangery.

The Canyon restaurant had a torrid year, however, with sales down by 12% on the previous year.

Much of this decline came in the June to September period, when because of 2003's hot summer and its riverfront location, the comparative period had been "abnormally strong", said Thomas.

by Nic Paton

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