Online restaurant booking service Toptable has reported a 187% increase in pre-tax profit, highlighting the consumer trend for booking tables online and taking advantage of special deals.
For the year to June 2009, the company - which includes the toptable.com and city-eating.com brands - generated record earnings before tax, of £1.27m, up from £442,000 in 2008. Total sales rose by 20% year-on-year and seated diners generated an estimated £120m-worth of transactions for the restaurant industry.
Toptable chief executive officer Karen Hanton said the company's strong results stemmed from its value offering and strong brand recognition coupled with its user base, on-site content and positive user experience.
"In light of incredibly tough market conditions, we are delighted to have been able to continue with our ambitious expansion plans delivering profitable growth," Hanton said.
The company's reported profit is net of a significant investment in its international expansion. A French language version of toptable was launched in September and will be followed shortly by German, Spanish and Italian sites to complement the English site.
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