G101 group returns to profit
Scottish off-licence group G101 has returned to profitability on the back of an 18% increase in turnover in the year to May 31, 2009, according to documents lodged at Companies House.
The chain – owned by the secretive King family – reported an operating profit of £83,000 against a loss of £26,000 in the previous financial year.
Turnover increased from £33.9 million to £40.1 million over the same period.
The directors’ report for the year states that they are “confident that the major capital investments made by the company in the previous year will enable it to maintain a profitable position and achieve continuous growth”.
The company intends to reinvest ”a substantial amount” of its profits back into the company in a bid to improve its market position.