Coaching Inn Group doubles profits as turnover tops £10m

30 September 2015 by
Coaching Inn Group doubles profits as turnover tops £10m

In the company's latest accounts, turnover is reported has having increased by 22% increase to £10.07m in the year to March 2015.

Operating profit before exceptional deal costs more than doubled from £388,500 to £800,000, while pre-tax profit increased by 88% to £510,000.

The group's seven regional coaching inns operated during the last financial year achieved an EBITDA figure of £2m - an average of £285,000 per site - with food and beverage accounting for 68% of revenue.

In January the company announced a £20m expansion plan following the acquisition of a 20% stake in the business by property investment company Commer Group for an undisclosed sum. This was followed in March by an investment of £4.5m from the Business Growth Fund.

Edward Walsh, finance director of the Coaching Inn Group, said: "We've seen excellent growth across the estate, with investments at the Old Bridge, Holmfirth, and the Three Swans, Market Harborough, in particular helping to drive turnover over £10m. The resulting growth in site level profitability has been key in helping us to secure further external investment and gives us a strong platform for the next stage of our development.

"With the completed acquisition of the Royal Oak in Welshpool [in April] and two further sites expected to complete in October, we remain ahead of our acquisition target for the year as we aim to double the size of the estate before the end of 2018."

The Coaching Inn Group currently operates eight properties in market towns in County Durham, Yorkshire, Leicester, Lincolnshire, Gloucestershire, Northampton and Powys.

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