Restaurant and bar group Kornicis reports 24% increase in sales
Kornicis Group, the firm behind Jamies Wine Bars, Smollensky's, Henry J Bean's and several other independent sites in the City of London, has reported a 24% increase in sales in the five weeks to 31 December 2011.
Like-for-like sales were up 15% over the same period, with central London sites faring slightly better at 20%.
Kornicis has 20 bars in total and was formed in 2008 when private-equity firm NBGI bought 17 sites from the Food and Drink Group.
Jamies proved one of the strongest brands, with a 20% like-for-like sales increase, and was further boosted by two new sites at Ludgate Hill and St Mary at Hill.
Kornicis chief executive Nick Tamblyn said: "Much has already been said concerning the snow effect in the previous year when comparing the like-for-like performance for the Christmas period just ended. Notwithstanding the soft comparables of 2010, these are impressive results and Kornicis will continue focusing its future growth into the central London area."
By Neil Gerrard
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