Walkabouts and Jongleurs boost Regent Inns

Pub group Regent Inns saw profits increase by 18.3% to £7.3m in the six months to 30 December. Turnover rose by 34% to £49.4m.

Growth was led by the company's Australian-themed Walkabout pubs and its Jongleurs comedy clubs, bought in August. During the period Regent opened eight Jongleurs, one Walkabout and three unbranded pubs. Two unbranded pubs were sold.

Regent has 100 pubs and clubs. They include 21 Walkabouts, which account for 35.5% of total sales.

Overall, gross profit margins increased by 0.7% to 73.5%. Sales at Regent's unbranded pubs increased by 7% over the six months, with average gross weekly sales of £16,100 per pub.

Its Jongleurs clubs achieved average gross weekly sales of £46,000. Jongleurs are being built in Manchester and Portsmouth. Contracts have been exchanged on a property in Glasgow and negotiations are underway on seven sites.

Walkabouts are being built in Liverpool and Portsmouth and work is about to begin on sites in Bristol and Newport. Contracts have been exchanged on a further five sites.

Trading over the Christmas and New Year period (the four weeks to 6 January 2001) was up by nearly 42%, with average gross sales at Walkabout venues peaking at £50,000 in the week before Christmas.

Jongleurs peaked at £83,000.