Costley & Costley returns to profit and boosts turnover

Bill Costley

Ayrshire-based restaurant and hotel operator Costley & Costley has returned to profit having reported a boost in turnover.

The family-owned company saw turnover rise 1.3% to £10,052,329 for the year ending 30 September 2018, compared with £9,926,436 the previous year.

It reported a pre-tax profit of £113,456, compared with a loss of £128,614 the year before.

Gross profit margin increased to 70.1% compared with 69.3% the previous year, according to accounts filed at Companies House.

In his report accompanying the accounts, director Bill Costley said, “The directors continue to focus on improving the quality and service associated with the Costley brand to further enhance the customer experience. The extensive programme of capital investment carried out throughout the group in 2016 and 2017 has generated improvements in both turnover and profit in 2018.

“The directors continue in their efforts to drive efficiencies within the business and a measure of this success is the improvement in the gross profit rate. The commitment of the directors to enhance the customer experience of the Costley brand continues this financial year.”

A further investment of £200,000 has been approved to develop the restaurant at the group’s five-star property, Lochgreen House Hotel. The programme of investment is ongoing with plans to develop the Lochgreen House Hotel banqueting

Category: Hotel News, News
Tags: Bill Costley