Maclay Group, the Scottish bar and pub operator, has announced its financial results for year end 29 September 2012. Revenue was steady at £10.4 million, operating profit of £718,312 was down from £745,937 recorded in 2011, while net debt was reduced from £11.5m to £9.7m.
A property impairment charge of almost £680,000 plus an increase in financing costs from £670,046 to £776,027 were the main factors behind the pre-tax loss.
MD of the Maclay Group, Steve Mallon, said, “The year was dominated by economic pressures suppressing customer demand but I am pleased with the robust response from our staff who pulled together to keep operating costs tightly controlled thus ensuring that margins were maintained.”?However the company has revealed that sales over the Christmas period from 16th December to 5th January saw a 4% increase over the previous year with total sales amounting to £1,094,985 for the three week period – a £45K increase.?
Speaking on Maclay’s strategy for the year ahead, Steve said, “Following the equity investment by Tennent’s Caledonian Brewery (TCB) early in the 2012, the company’s financial position is strong and positions us well for the year ahead.
