London delivers profit growth for Urbium

Strong trading in London and the addition of five new venues during the year helped Tiger Tiger operator Urbium grow its profits by 18% to £11m in 2004.

Chairman John Conlan credited robust trading in the capital, where 70% of the company's 29 businesses are located, for the strong full-year performance.

Conlan said he was delighted to report a considerably improved trend in the second (and more important) six-month trading period after a tough start to 2004.

Urbium's turnover for the year ended 31 December 2004 increased 13% to £75.3m, compared with £66.7m in 2003.

The company will open two new businesses in the capital during first half of 2005, upping the number of outlets to six and the total capacity of its London sites to 3,860.

by Chris Druce

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