Bar Group turnover up by 10% to £10m
Bar Group, the 30-strong Kent-based managed multiple lessee headed by Paul Wigham and Stephen Brook, saw turnover rise by 10% to £10.02m in its most recent financial year, according to Companies House documents.
The company, which runs the Bok Bar and Wishing Well chains, also made a profit before tax of £64,000, compared with a loss of £300,000 in 2005. Wigham said: "The company's strategy has been to stabilise the business in the face of many uncertainties in the sector in recent years.
"This has been done successfully and the company has developed further opportunities by exploiting its relationships with pub companies and utilising its tight management controls to operate short-term tenancies that are capable of conversion into longer-term income opportunities."
Bar Group accounts indicate the company's concerns about the rising tide of red tape and cost increases affecting the trade.
On Sky TV, Wigham says that the virtual monopoly on television transmission "potentially exposes the industry to anti-competitive pricing policies, which can affect the business of the company".
He added: " In the past two years, commercial Sky costs to the company have risen by more than 40%."
The company also pointed to licensing as a major source of increased costs. Wigham said: "Changes in the licensing regime added little revenue but costs of the process have increased, as have the cost of compliance to ever-changing local government requirements and policies.
"Such costs include additional door staff requirements and premises alterations.
"But other subtle changes may have a bearing on cost levels. The cost for music licences from the Performing Right Society and Phonographic Performance have risen significantly in the past year as they attempt to recoup falling revenue from a market affected by digital music."
