Pub and bar operator, the Orchid Group has announced an increase in sales of 3.7% in its first set of financial results published since the company was refinanced earlier this year. Turnover was up to £179.5m for the year to 31 December 2011, with gross margins up by £2.3m, despite increases in alcohol duty and VAT.
Following refinancing, the pub group - which owns and operates 256 pubs and bars - has started a £20 million capital investment programme, mainly focused on moving its wet-led outlets to have more of a food focus.
Chief executive Rufus Hall said food now accounts for over 40% of the sales mix, up from 28% in 2006, “reflecting our focus on food-led occasions and recognising changing customer trends”. New carveries offering turkey, lamb, beef, gammon and pork belly were introduced at 55 of the group's pubs across the UK in July.