G1 Group reports ‘solid’ 2016/17 results

G1 founder and MD, Stefan King
02/10/2017 - 12:02
Scottish hospitality and leisure operator, G1 Group, has reported turnover of £74.5 million for the year ended 31 March 2017, up from £70.5 million the year before.

The group’s investment expenditure totalled more than £20m for the year and its net assets increased by 6.5%.

EBIDTA was £17.6 million thanks to what chairman Brian McGhee called “strong cashflow.”

“The group has continued its solid progress into the current financial year, and will look to build on that with acquisitions which fit with the strategic footprint,” said McGhee.

“The EU referendum result from last year continues to dominate the landscape, with attendant political and economic uncertainty, exacerbated locally by the continuing issues for the oil economy.

“Alongside this, the hospitality and leisure sector has had to cope with additional regulation across the board – business rate changes, energy levies, apprenticeship levies, and excise duty changes.

“So it is a testament to the broad base of activity and careful management that G1 has delivered a solid set of results for 2016/17.”

He added that the company’s focus for the rest of the year would be on refurbishment and development.

G1 Group operates more than 50 venues across Scotland including bars, pubs, restaurants and delis.

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