Novus reveals strong pre-Christmas trading
For the period of June to November 2011, Novus Leisure saw like-for-like sales increase by 15.9 per cent. For the 52 weeks prior to 26 June, total sales for the Group grew by 12 per cent to £106.7m.
“With Christmas bookings in significant growth and the future opportunity of the 2012 Olympics in our heartland of London, Novus is set to deliver another period of significant growth over the year,” said Steve Richards, chief executive of Novus Leisure.
“This is another excellent year of progress for the business which clearly demonstrates the strength of our ‘pre–booked sales’ model and on-going appeal of our premium venues. The London market on which we focus has remained strong despite the macro economic climate and our regional businesses continue to generate double digit growth."
Novus Leisure estate
Novus currently operates 52 premium bars predominantly in London’s West End and City districts, as well as the Tiger Tiger brand (pictured) in several regional cities nationwide. The Group recently kicked off a re-brand of the city bar chain Balls Brothers it bought out of administration earlier this year with a £300k refurbishment of the Lime Street branch.
“We have continued to invest in our estate and infrastructure, successfully leveraging our USP of pre-booked sales to deliver industry leading returns,” added Richards. “The acquired Balls Brothers and Lewis & Clark bars are an excellent strategic fit with the core Novus estate, further consolidating our growing London dominance and will be a driver of profit in 2012.”
In summary, the financial results for the 52 weeks ended 26 June 2011 are as follows:
- Total sales grew by 12 per cent to £106.7m (2010: £94.9m)
- Like-for-like sales increased 8.9 per cent year-on-year
- EBITDA increased on a like-for-like basis to £11.1m (2010: £6.9m)
