Profits soar at fast growing bar chain
Profits have soared at the business which is behind some of the best-known bars and venues in the North West.
New World Trading has launched The Botanist and The Florist as well as The Oast House in Spinningfields.
And profits at the Knutsford firm have risen from £109,181 to £4.1m in the space of 12 months. Revenues were up by £5m to £45.2m.
The company was launched by Tim Bacon and Jeremy Roberts – the duo who set up Living Ventures.
It currently operates 20 bars and venues across the region and the UK including The Smugglers Cove, The Trading House, The Club House and The Canal House.
Over the last 12 months five new venues were opened in Reading, Birmingham, Salford, West Bridgford and Bristol.
The latest venture is in Liverpool and new bars are planned for Bath, Cardiff, Exeter and Watford along with Coventry and Cheltenham.
The company said it had enjoyed an exceptional year despite the tough market conditions on the high street.
Earlier this month the firm launched an app which rewards loyal customers.
Credits are added to a customer’s balance, which can then be redeemed against food and drink purchases.
Chris Hill
Chris Hill, chief executive of NWTC, said: “We are bucking the trend and growing in a competitive market, and it’s important we thank our customers for helping make this possible.
“My New World rewards customer loyalty with strong levels of credits that can be quickly accrued and turned into valuable discounts to enjoy in any NWTC venue.
“Rewarding customer loyalty, whilst also better engaging with customers on-the-move, will help us grow our customer base in line with our national expansion programme.”
