Batemans reports rise in turnover

Operating profit for the 62-strong company increased 5.8% to £290,298 on turnover up 15.5% to £14.6m. Pre-tax profit was £73,580 (2010: £122,283), and gross margin grew 6.2% to £4.5m.
Employment costs as a proportion of turnover in the period fell from 18.2% to 15.3%. Overall staff costs fell 3% to £2.2m.
Batemans said: “In another challenging year turnover, gross margin and operating profit improved on the prior year performance. The difference in the after tax profit position was largely due to a reduction in the property disposal profits.”
The company added: “The strategy of investing in our existing estate and our people will continue, with property acquisition opportunities being exploited as appropriate as they occur.”
In April, M&C Report​ revealed that Batemans has opened its first managed pub, the Bell Inn at Burgh Le Marsh near Skegness, and is looking to run more sites on a managed basis in the future. The Bell Inn was converted from a tenancy.