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Fishworks takes stock after hectic but successful year of growth

19 October 2006
Fishworks takes stock after hectic but successful year of growth

Fishmonger and restaurant group FishWorks has said it will maintain a steady rate of expansion rather than overextend itself in 2007 to ensure the quality of its customer service and staff training.

The 12-strong chain had extremely busy year that ended 30 July, opening five new sites, signing two others and buying seafood supplier Channel Fisheries in January.

FishWorks also floated on the London Stock Exchange's Alternative Investment market in June 2005.

Chief executive of FishWorks Mitch Tonks said: "We achieved a lot of growth this year but think it's crucial to keep our focus on customer service. Therefore we'll look at adding two to three news sites on top of the two already opened in a steady, controlled expansion."

FishWorks decision to end its underperforming concession at London's Harvey Nichols department store cost it £281,000.

  • Turnover: up 85% to £7.62m (2005: £4.13m)
  • Operating profit from continuing operations: £219,000 (2005: £21,000).
  • Group loss before tax: £519,000 (after discontinued and exceptional items totalling £744,000).

FishWorks to open 12th site >>

Mitchell Tonks takes over as FishWorks chief executive >>

New finance director for FishWorks >>

FishWorks website >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=FishWorks to take stock after hectic year of growth) here.

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