Novus report record sales over Christmas

By Becky Paskin

- Last updated on GMT

Related tags: Novus leisure

Novus brand TigerTiger saw like-for-like sales rise 3 per cent
Novus brand TigerTiger saw like-for-like sales rise 3 per cent
Novus Leisure, the bar, restaurant and club operator, has announced record trading over the Christmas period.

For the six weeks from 19 November to 2 January, Novus Leisure saw like-for-like sales increase by 7.9 per cent, with group profit up 17 per cent.

The group, which operates 38 venues under brands like Tiger Tiger mainly in London’s West End, reported that 78 per cent of revenue generated in the period was from advanced bookings.

Steve Richards, chief executive of Novus leisure, said the record results matched the performance of the year to date, “demonstrating the strength” of the group’s business model.

“We successfully grew market share, maintained margins and advanced bookings were well ahead of last year,” he said. “We are relatively pleased with the result, but expected to do better, particularly in the regional cities which were badly affected by the snow.”

Richards’ attitude mirrored that of several other restaurant and pub operators, who in comparison saw December like-for-like sales fall by 4.2 per cent ​as a result of the snow.

Future plans

He added that looking forward to 2011, Novus’s key drivers would be through group-owned website latenightlondon.co.uk, which saw traffic rise 52 per cent in the period, increasing revenue through food sales and corporate events.

“The New Year has continued in the same positive vein and we are well on the way to achieving another decent performance this financial year.”

Novus plan to open three additional “state-of-the-art” sites before the summer, in London and Glasgow.

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