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Oakman Inns and Restaurants sees turnover boost

07 | 01 | 13

Bosses at Oakman Inns are predicting bumper profits in 2012/13, as like-for-like sales have increased by six per cent in the year to date.

The company is expected to see its turnover exceed the £9 million mark, much to the delight of chief executive Peter Borg-Neal.

He told Caterer and Hotelkeeper that Oakman's accounts for the year to April 1st 2012 showed turnover of £7.6 million - up by 22 per cent on the previous year.

Mr Borg-Neal felt that last year was a period that saw the organsiation "mature as a company".

"During the year we increased our operational capacity by taking on three senior personnel to help me run the business," he was quoted as saying.

"We opened our fifth Oakman Inn, the Blue Boar, towards the end of the year and it has proven to be another huge success for us."

The firm posted a pre-tax loss of £465,000 during the year to April 2012, which was attributed to the refurbishment of the Blue Boar in Witney, Oxfordshire.

This was also far lower than the £766,000 deficit from the previous year.

Further investment is set to be made in catering equipment in the near future, as the business plans to bring another two premises into play.

One, Mr Borg-Neal confirmed, is a leasehold in Beaconsfield, while the other is a freehold in Abingdon.

These two projects will be funded by equity from an enterprise investment scheme, it has been confirmed.

The company has been going from strength to strength since it first came on to the scene in 2007, opening five contemporary bars and eateries in Oxfordshire and Hertfordshire, two of which also offer luxury rooms and function areas.

Oakman is keen to protect the proud heritage of old British watering holes while adding a modern and sophisticated twist.

Food has been crucial to the firm's success and the enterprise prides itself on producing "delicious, hearty food" that is made from scratch and served in a warm, comfortable and welcoming environment.ADNFCR-16001031-ID-801517715-ADNFCR

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