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Hartford Group looks forward to profitability
Restaurant group, Hartford, is to forge ahead with growth and move towards profitability despite widening full-year losses. In the year to 31 December 2000, pre-tax losses for the restaurant group grew from £2.31m to £3.27m, however the figure did include a £1.5m exceptional impairment provision. Turnover rose £400,000 to £7.3m. Chair Stephen Thomas says that the ongoing strategic review following the management restructure is enabling the company to assess new developments: This has been a year of reconstruction for Hartford. Following a strategic review of the existing estate, we now have a strategy in place for the future growth of the group and the board continues to review opportunities, either start-up or existing operations, in the hospitality and leisure sector. Last month Hartford launched a gastro-pub concept in Ascot, with a second site to open in Loughton in April, and its flagship Pharmacy restaurant in Notting Hill is to undergo a £350,000 refurbishment.
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