Bealim Home and Mushroom proprietor hints it may open new bars in Toon
Certainly one of Newcastle’s largest leisure firms has hinted it may open extra bars within the metropolis after promoting off properties to release money.
Vaulkhard Group already owns a number of bars and occasional outlets in Newcastle, together with Mushroom, Perdu, Barluga, Bealim Home, Blake’s and Central Bean, in addition to the Newcastle Gin Co.
Nevertheless, the corporate stated it may look to spice up its revenue figures by buying extra websites over the following yr.
Talking within the firm’s accounts, director Oliver Vaulkhard stated: “The group has made important funding property disposals after the steadiness sheet date.
“That is anticipated to offer enough assets so as to add to the variety of licenced premises within the coming yr throughout the leisure enterprise, which can enhance the EBITDA of the group.”
Vaulkhard Group generated £10.5m in turnover throughout the yr ending March 31, a rise of round £46,500 in contrast with 2017.
The agency’s EBITDA elevated from £918,000 to £985,000.
Nevertheless, revenue after tax fell from £608,000 to £566,000.
Turnover generated from the group’s leisure division fell 2% however this was offset by progress in different areas.