The family-owned hospitality group, which currently runs a dozen venues across Scotland, posted a 14 per cent increase in turnover to £18.4 million for the year to 30 April 2019.
Operating profit rose 15 per cent, from £633,700 in 2018 to £731,484 last year, with capital investment “top of the agenda” during 2019.
The group said it had invested significantly in its new and existing venues. A total of £3m was spent across the portfolio, including the refurbishment of its flagship venue, Elliots in Prestwick, transforming it into the Vic’s & The Vine bar and restaurant, alongside the creation of the company’s first venue on the east coast – Scott’s Bar & Restaurant in Port Edgar, South Queensferry.
Further investment has also followed in the east, with the purchase of a freehold property, The Bridge Inn in Linlithgow.
Buzzworks’ chairman Colin Blair said: “By strategically investing in our existing venues, we are pleased to report a year-on-year rise in turnover and underlying profitability, during what has been an exciting period for the business.
“It’s essential to evolve within the hospitality industry and look at innovative ways to create new and exciting concepts for our customers, whilst benefiting the local community and Scotland’s hospitality industry.
“Overall, we are reflecting on an exciting year for Buzzworks, and we look forward to unveiling our new venue in Linlithgow, The Bridge Inn, with a further two projects to be announced soon.”
Among the group’s other venues are The Duke in Kilmarnock, Lido venues in Prestwick and Troon and five “House” venues in the west of Scotland – Mill House Stewarton, Corner House Kilwinning, Tree House Ayr, Coach House Bridge of Weir and Long House Kilmarnock.
The firm said it had also continued to invest heavily in its people through training and wellbeing initiatives.
Marking a first for the company, a people director was hired to lead the charge in creating a “people strategy” within the business, which has some 500 staff.
Blair said: “Employee training and wellbeing continues to be a core principle for Buzzworks and we have invested heavily in this area once again.
“The recruitment of our new people director is testament to our commitment to remaining one of the best places to work in the UK and we are delighted to be in The Sunday Times 100 Best Companies to Work for In the UK for the fourth year in succession.
“By providing a positive working environment for all employees… we will reap the benefits of a long term successful hospitality business.”
The firm has invested more than £130,000 in training staff across the portfolio this year.