Regent to add 20 new Walkabouts next year
Regent Inns plans to open 20 Walkabout Inns by the end of next year following a strong sales performance boosted by the World Cup.
The group, which owns other bar chains Bar Risa and Pals as well as the comedy club chain Jongleurs, claims its Walkabout Inns have generated returns "above industry norms".
Ten Walkabout Inns were opened last year giving the group 32 in total. They contributed 41.8% of the company's total sales.
In the year ended July 2002, Regent Inns saw turnover increase by 25.9% to £124.6m, while pre-tax profit increased by 5.8% to £16.5m.
The group's Bar Risas and Jongleurs returned a "very strong" performance, said chief executive Stephen Haupt, with the exception of its Manchester venue, which traded "below expectations".
Haupt added that the company was keen to open more late-night venues under its Pals brand, of which it currently has two - in Ipswich, Suffolk, and Croydon, Surrey.
The group is continuing to dispose of its unbranded pubs to raise capital for expansion.
It has already offloaded 36 pubs throughout the year, the majority to Wizard Inns. A further 22 unbranded pubs are yet to be sold.
by Christina Golding
