Search
The Caterer

Hartford shows profit

15 March 2005 by
Hartford shows profit

London bar and restaurant group Hartford is in the black after seven years of trading as a public-listed company.

The Hartford Group made £445,000 profit before tax for 2004, compared with a loss of £637,000 the previous year. The group owns bars in central London, Wimbledon and Canary Wharf, and a restaurant in Richmond.

However, taking into account one-off costs, exceptional items and amortisation following the purchase of three new restaurants and disposal of the Dakota restaurant, the group's pre-tax profit stood at £70,000.

Its like-for-like sales performance was up by 1.3% for its core bars, but decreased by 0.7% for the group. Christmas trading was stronger, up 8.4% on last year's record performance.

Total overall sales were down by 16% at £12m, because of the disposal of lossmaking sites.

James Kowszun, the group's chief executive, said: "We spent the last two years stabilising the business both operationally and financially, and are now aggressively looking to expand."

He added that the group is targeting individual sites or small clusters in some London villages, such as Chiswick or Twickenham.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.