Profits up at SFI pub group
Pub group SFI, formerly Surrey Free Inns, has reported pre-tax profits up by 18% to £3.7m during the six months to 20 November 1999. Turnover rose by 34% to £23.8m.
SFI, which runs the Bar Med and Litten Tree pub chains, had doubled in size in just over two years. At the end of November it had 73 pubs and bars and has since opened six more.
Chairman and chief executive Tony Hill said the performance during the six months represented "excellent progress" at a time when the company was expanding rapidly.
The company is looking to add six more outlets by the end of its financial year in May.
It is also testing a coffee shop and take-away sandwich bar, called Café Litten, at four of its pubs.
The six Latin-themed bar-restaurants trading under the names Havana, Cuba and Salsa, which SFI bought from Capital Radio last year, are expected to "contribute strongly to profits in the second half". SFI is considering opening more of these.
