Shares in SFI Group, operating, Slug and Lettuce, Bar Med and Litten Tree brands, surged last week in the wake of strong Christmas trade figures. After reporting a 5.3 per cent rise in like for like sales over the Christmas and new year period, SFI enjoyed a shares hike of 17.5 pence to 235.5 pence. Total sales in the three weeks to the end of December were 30 per cent higher at £12.7m. Total sales on New Year's Eve alone topped £1.1m. These Christmas trading results reflect SFI's increasingly balanced business portfolio. Geographically, we have a spread across the country that avoids over dependence in any one area, commented Tony Hill, chair of SFI Group. During the three week period to the end of December, three Litten Tree and two Bar Med outlets were opened and are reported to be trading at 'very high levels'. Two of the Parisa outlets were converted into the Slug and Lettuce brand and the full roll-out of 28 Parisa conversions commences next week. Tony Hill said it was significant that the group had strengths in all three of the key elements of licensed retailing - food, drink and entertainment: The complementary brand strategy allows us to target different consumers with different offerings within the high street bar market. The group's Latin outlets, which had suffered variable trading, made a 'solid recovery' over the Christmas period, with 'exceptionally strong' New Year's Eve trading in Central London. The group still intends achieving 'leadership in the premium sector of thehigh street bars market' and plans to double the size of its Slug and Lettuce chain to 60 pubs by May.
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