Buzzworks reports 15.6% rise in profits to £14.8million

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Buzzworks reports 15.6% rise in profits to £14.8million

Scottish hospitality group Buzzworks Holdings Ltd is celebrating a successful year after turnover rose from £12.8 million to £14.8million, a 15.6% rise.

Pre-tax profit increased by 9.2 per cent, from £635,626 in 2016 to £694,248 in 2017 despite sector challenges.

The award-winning family business is one of Scotland’s fastest growing independent restaurant and bar operators, managing ten venues across Ayrshire and beyond.

The financial year ending April 2017 marked an exciting period for the company with the arrival of the Corner House in Kilwinning and a significant investment in its established restaurants including a £500,000 refurbishment of the flagship Scotts in Troon.

The annual results also identified a 13 per cent increase in employee numbers (rising from 387 in 2016 to 438 in 2017) as Buzzworks continues to invest in its people through its in-house training academy.  The company is committed to developing leaders of the future and heralding the hospitality industry as a viable and prosperous career choice.

For the second year running, Buzzworks was identified in the Sunday Times 100 Best Companies to Work for in the UK list, propelling itself from 64th place in 2016 to 40th place in 2017.

For entrepreneurs Kenny, Colin and Alison Blair, 2018 will see more investment in its people and its premises as they remain confident and optimistic about their business model.

They will look to establish the newest venue in the portfolio, The Coach House in Bridge of Weir – the first outside of Ayrshire – following its opening in summer 2017 and continue its expansion with the arrival of Scotts at Port Edgar Marina in the East which is anticipated summer 2018.

The team are also on the lookout for new venues across Scotland.  

Kenny Blair, Director at Buzzworks Holdings, said: “It is fantastic to reflect on such a strong financial year where we have invested in a host of new projects and seen the extensive refurbishment of our flagship venue – Scotts in Troon.

“Last year was an exciting time for Buzzworks Holdings and as a company we achieved some healthy results; however we are constantly looking forward and our focus is now on how to make 2018 even more of a success as we expand into the east coast and beyond.

“We move forward with cautious optimism as the sector continues to face challenges relating to increased supplier and staff costs however we have managed this well. We will continue to invest heavily in our people and bring them along on this exciting journey, whilst making sure our customers continue to enjoy world class hospitality at each of our venues.

“We believe this commitment to excellence and investment in the team and the portfolio have been instrumental in our success to date.”

By |2018-01-29T18:00:09+00:00January 29th, 2018|Business News, Finance News, Food & Drink, Food & Drink, Glasgow, Growth, National|Comments Off on Buzzworks reports 15.6% rise in profits to £14.8million

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