Profits up at Po Na Na owner
Po Na Na owner Eclectic Clubs & Bars](http://www.eclecticbars.co.uk) has seen sales and profits climb, fuelled by an increase in midweek custom driven by the student market.
The group, which will open its second and third Lola Lo bars in Norwich this November and Oxford before Christmas following the brand's debut in Brighton this summer, saw total sales leap 12% in the full year ended 27 June 2010. Like-for-like sales were 2% ahead.
Eclectic, which is majority owned by Avanti Capital, saw company earnings before interest, tax, depreciation and amortisation, (EBITDA) climb 59% to £1.982m as a result.
The company, which is seeking to establish a large collection of bars and clubs, said in the 15 weeks since the start of July, like-for-like sales increased 6.9% year-on-year, while total sales are ahead 4.4%.
Eclectic currently has 11 sites trading with other brands including Sakura and Fez Club.
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By Chris Druce
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