The New World Trading Company reports 14.8% turnover boost

The New World Trading Company (NWTC) of multi-branded bars has reported "a good year in challenging market conditions" with turnover increasing by 14.8% to £51.8m.

However, pre-tax profit for the group, which numbers 27 sites, fell from £3.6m to £816,093 during the 12 months to 31 March 2019, according to the NWTC's full accounts lodged at Companies House.

The company's seven brands include the Botanist, the Florist, the Oast House, the Club House, the Canal House, the Smugglers Cove and the Trading House.

During the financial year, NWTC opened four sites: the Florist in Liverpool and three Botantists in Bath, Cheltenham and Coventry. A further Florist has since launched in Watford.

The company said that its pipeline beyond 2019 remained "very strong" and it intended "to continue opening sites at a similar rate for the foreseeable future".

Success during the year included being placed fifth in the Sunday Times Best Companies To Work For list.