Privately owned bar group Drake & Morgan has today reported increases in sales and profits as it continues with plans for expansion.
Turnover increased by 44.3 per cent to £16,400,298 in the 52 weeks to March 31, 2012, while pre-tax profits were up 33 per cent to £1,272,943.
It operates five large-scale venues in London – The Refinery, The Parlour, The Folly, The Anthologist and The Drift (pictured) – and is on course to open The Happenstance in St Paul’s and a second venue in Holborn next year.
Managing director Jillian Maclean said: “This is an exceptionally strong performance from Drake & Morgan. UK expansion has continued with the opening of The Drift and we are looking forward to bringing two new concepts to the City next year.”
