Walkabout is on the march
Pub group Regent Inns plans to add 20 Walkabout Inns by the end of next year, following a strong sales performance boosted by the football World Cup.
The group, which also owns bar chains Bar Risa and Pals and comedy club chain Jongleurs, claims its Walkabout brand has generated returns "above industry norms".
Ten Walkabout Inns were opened last year, giving the group 32 in total and contributing 41.8% of Regent's total sales.
In the year ending 6 July 2002, Regent Inns saw turnover increase by 25.9% to £124.6m, while pre-tax profit increased by 5.8% to £16.5m.
Bar Risa and Jongleurs, which operate alongside one-another, put in 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 and Croydon.
Regent is continuing to sell off its unbranded pubs to raise money for expansion. It offloaded 36 pubs during the year, most of them to Wizard Inns. A further 22 unbranded pus are yet to be sold.
