Sales jump 40% at LT Management
8 August, 2012
Pub turnaround and management specialist LT Pub Management, which also runs some of Little Chef's back office function, says its sales rose by just over 40% from £17m to £27.4 in the year to Christmas 2011.
Pre-tax profits for the year stood at £862,000, compared to a £394,000 loss previously. It said the spike in sales reflected increased demand for its services, which has seen it take on hotels, restaurants and nightclubs as well as pubs—partly because of the prolonged economic downturn making business hard for some firms, but also because companies have preferred to outsource challenging aspects of their operations. As Peach Report has reported, since the year-end LT has taken on outsourced management for Little Chef.
Company founder Billy Buchanan said: “Our strategy since we founded LT Pub Management has been to create a platform for growth across the sector. The company has expanded quickly and taken on a number of contracts to work on behalf of banks, insolvency practitioners, investors and private clients, managing and operating assets across the hospitality and leisure sector. We will be looking to build further on this foundation in the rest of 2012.”