G1 profits from pubs and clubs

BARS and clubs group G1 has unveiled a sharp rise in turnover and profits as consumers shrugged off the downturn to enjoy a night out.

The Glasgow company reported an 18.6 per cent rise in operating profit to £10.4 million on an 11.2 per cent hike in turnover to £66m. G1 invested £9.6m in its estate and said it looked forward to 2014 with cautious optimism.

The year included the launch of Forgan’s in St Andrews and refurbishments at the Bank Hotel in Edinburgh which is now the Inn on the Mile, Biddy Mulligans and the Central Hotel in Edinburgh. 2012 also saw the creation of a boutique hotel at Murrayfield House in Edinburgh.

G1’s head office relocated from the Merchant City to Glasgow’s west end.