Buzzworks reports strong start to 2024 and plans to double size of business as turnover rises to record £29.5m: Scottish independent restaurant and bar operator Buzzworks Holdings has said it has experienced a strong start to 2024 as it plans to double the size of the business and create 800 jobs. Like-for-like sales were up 5.3% for the five weeks to 31 December 2023, which came on top of strong growth last year. It comes as the 19-strong business reported turnover increased 19% to a record £29,499,697 for the year ending 30 April 2023 compared with £25,196,374 the year before. Negotiations are also underway on three new venues. Underlying Ebitda before site opening costs and non-recurring items was £2.94m compared with £3.95m in 2022, which was supported by the reduced VAT rate on food sales and the payment holiday on business rates. The business made a pre-tax loss of £629,811 compared with a profit of £1,979,645 the year before as cots increased by more than £5m. As part of its growth strategy, Buzzworks continued to invest in new and existing venues. This totalled £4.7m in the year including the opening of Scotts in Greenock as well as further expansion into the east coast with Thirty Knots in South Queensferry followed by the opening of Herringbone Abbeyhill in Edinburgh. The company also invested in the refurbishment of its current portfolio including Lido Troon, Scotts Largs and Herringbone venues in Goldenacre and North Berwick. Managing director Kenny Blair said: “We have stuck to our plans for expansion, investment in our portfolio and development of our people and despite challenging conditions, we’ve had a successful year. Our formula of investing in great properties in towns and suburbs across the country, introducing our unique blend of food, drink, style and service, is one that is working for us. Hospitality is an integral part of life throughout the country and without it, our towns and cities would be pretty miserable places to live. We want to continue to invest but we’re not immune to external factors coming our way that will impact the pace for growth. Our industry is experiencing pressures from increased property costs, increased rate of pay from national living wage and general overhead inflation including energy costs. We’re trying to navigate this and won’t compromise on our high standards. The goal is for Scotland to be a place where hospitality businesses thrive rather than survive – communities where jobs and careers are created for local people in venues that can be enjoyed by all. This is what will drive us forward and we are confident the good momentum we are seeing will put us in the best possible position to fulfil our ambitious growth plan.” Buzzworks features in the Propel Turnover & Profits Blue Book. Its turnover of £29,499,697 is the 291st highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

Propel to launch Premium Club on Thursday: Propel is evolving its Premium subscription offer by launching Premium Club on Thursday (1 February). All circa 4,000 existing subscribers automatically become members. The launch of Premium Club comes with even more benefits. All subscribers will be offered a 20% discount on tickets to four Propel paid-for events – The Excellence in Pub Retailing Conference (14 May), Social Media for Profit (18 July), the Talent and Training Conference (1 October) and Restaurant Marketer and Innovator (two days in January 2025). Operators will also be able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members also get exclusive access to six databases: the Multi-Site Database, Turnover & Profits Blue Book, the New Openings Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Food & Beverage. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Propel Premium subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. Email kai.kirkman@propelinfo.com today to sign up.

Adnams COO to retire: Suffolk brewer and retailer Adnams has announced chief operating officer Dr Karen Hester is to retire. Having worked within the business for some 36 years, she has confirmed she will not be standing for re-election as an executive board member at the annual general meeting in April. Chief executive Dr Andy Wood said: “Karen has been part of the Adnams business family from before even I joined the company. I am pleased to say that, in keeping with Karen's own progression through the Adnams business, members of Karen's current team will carry on Karen's great work. We wish her the very best in whatever may come next.” Hester added: “It has been a pleasure to be able to support Adnams over more than three decades in my various roles at the company and for my own role to have been seen as an exemplar of women employees being allowed to reach their full potential. I wish the company and the team every success going forward.” Wood has previously confirmed his intention to step down from his position of chief executive within the next year.