Buzzworks celebrate 9.2% rise in profits as turnover hits £14.8m
Buzzworks, the award-winning Ayrshire-based hospitality group, owned by Kenny, Colin and Alison Blair, celebrated a rise in turnover of 15.6% to £14.8 million and a 9.2% increase in pre-tax profit to £694,248 for the year to 30 April 2017.
The promising results not only help cement Buzzworks reputation as a leader within the hospitality industry in Scotland but also demonstrates that Buzzworks commitment to investing in its people through its in-house training academy and through various employee initiatives is paying off.
The company has long promoted its commitment to developing leaders of the future and heralding the hospitality industry as a viable and prosperous career choice.
The financial year ending April 2017 included the arrival of the Corner House in Kilwinning and a significant investment in its established restaurants including a £500,000 refurbishment of the flagship Scotts in Troon. 2018 will see further investment in its people and its premises.
Kenny Blair, Director at Buzzworks Holdings, said: “It is fantastic to reflect on such a strong financial year where we have invested in a host of new projects and seen the extensive refurbishment of our flagship venue – Scotts in Troon.
“Last year was an exciting time for Buzzworks Holdings and as a company, we achieved some healthy results; however we are constantly looking forward and our focus is now on how to make 2018 even more of a success as we expand into the east coast and beyond.
“We move forward with cautious optimism as the sector continues to face challenges relating to increased supplier and staff costs, however, we have managed this well. We will continue to invest heavily in our people and bring them along on this exciting journey, whilst making sure our customers continue to enjoy world-class hospitality at each of our venues.
“We believe this commitment to excellence and investment in the team and the portfolio have been instrumental in our success to date.”
The annual results also identified a 13% increase in employee numbers (rising from 387 in 2016 to 438 in 2017).
For the second year running, Buzzworks was identified in the Sunday Times 100 Best Companies to Work for in the UK list, propelling itself from 64thplace in 2016 to 40th place in 2017.
For entrepreneurs Kenny, Colin and Alison Blair,
They will look to establish the newest venue in the portfolio, The Coach House in Bridge of Weir – the first outside of Ayrshire – following its opening in summer 2017 and continue its expansion with the arrival of Scotts at Port Edgar Marina in the East which is anticipated summer 2018.
The team are also on the lookout for new venues across Scotland.
Buzzworks Holdings currently manages ten venues including Elliots, Scotts in Troon and Largs, Lido venues in Prestwick and Troon, The Tree House in Ayr, The Long House in Kilmarnock, The Mill House in Stewarton, The Corner House in Kilwinning and their newest venue The Coach House in Bridge of Weir.