New World Trading Company (NWTC) is to continue growing its estate of bars and restaurants “in a sensible way” after reporting a rise in sales and earnings.
It has revealed that sales grew by 70% to £30.1m in the year to the end of March 2016, with earnings (EBITDA) increasing by 63% to £3.5m.
Over the year, it grew to 15 sites, including openings for The Botanist in Birmingham (pictured), Marlow in Buckinghamshire, Farnham in Surrey and Knutsford in Cheshire. Since year end, it has opened one in Sheffield, with another set to open in York in November.
NWTC managing director Chris Hill said: “The plan from here is to grow in a sensible way, continuing to shape the business as we have done from the start, and to build on the foundations.”
The business, which was originally founded by Tim Bacon and Jeremy Roberts of bar and restaurant group Living Ventures, was acquired by investor Graphite Capital earlier this year. Tim continued to be involved in the business until he lost his battle with cancer in April.
Chris added: “From an early stage we knew that NWTC was a special business. Our first two sites were the incredible Oast House in central Manchester and a suburban pub, The Botanist, in a leafy location on the outskirts of Greater Manchester. They were two businesses that were very different from each other, which were both very, very successful.”
“On the back of the success of our first two sites, we felt we had something that was very scalable and could be successful in many different locations.”
NWTC has expanded from its north-west heartland to other parts of England and also operates The Botanist in Alderley Edge in Cheshire, Chester, Leeds, Manchester and Newcastle upon Tyne as well as rum mecca The Smugglers Cove in Liverpool.