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).
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By Chris Druce
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