Channel Island-based leisure group CI Traders has reported positive full year results despite what it called ‘dull’ market conditions over the past 12 months.

During the year ending 29 January, the group’s turnover rose by 2.8 per cent to £293.9m while profit before tax increased by 33 per cent to £14.8m.

The company, which operates around 90 bars and pubs thorughout the UK, will also continue to assess the feasiblity of building a casino at its St Pierre Park hotel in Guernsey.

CI Traders received building permission in 2003, but as a condition was issued a three-year deadline in which to substantially refurbish and enlarge the existing property.

With the deadline expiring in 2006, the company said its current projections for a casino show returns which barely cover funding costs.

Tom Scott, CI Traders’ chair, said: “We believe that a casino is an attractive venue for Guernsey and hope to reach a satisfactory conclusion in our discussion with the authorities later this year.”