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CI Traders look on the bright side

20 April 2005 by
CI Traders look on the bright side

Blubeckers restaurants owner CI Traders remains upbeat about the chain's prospects despite "dull market conditions" over the past 12 months.

Financial results for the year ending 29 January showed that turnover at the company's UK restaurant division, which includes the Blubeckers and Edwinns chains, increased 11% year on year.

Turnover actually dropped 1% on a like-for-like basis, however, and the company conceded its new restaurants in Chigwell, Essex and Bolney, Sussex had got off to a slow start.

CI Traders now operates five Edwinns and 12 Blubeckers in the Home Counties and around London.

The company's 85 pubs in Guernsey and Jersey also had a mixed time, with town pubs struggling and community pubs trading solidly.

Its Channel Island hotels faired better with turnover up 4% year-on-year.

Overall, total group turnover for the company was up 2.8% to £293.9m compared with £286m last year and pre-tax profit increased 33% to £14.8m from £11.1m the previous year.

By Chris Druce

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