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Ultimate profits pave way for expansion

07 October 2004
Ultimate profits pave way for expansion

Club and bar operator Ultimate Leisure has achieved a fifth successive year of record profits, "despite the increasingly competitive trading environment on the high street".

Buoyed by its results and a £20m share placing in October last year, chairman Alan Rankin said the company would make use of its "enormous financial resources" to expand the business.

Turnover at the company, which owns the Coyote Wild chain, shot up 35% in the full year to 30 June to £35.7m (against £26.5m last year). Pre-tax profit increased 31% to £8.9m (£6.8m in 2003).

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