Scottish hospitality group Buzzworks Holdings has reported an increase in turnover, up 9% from £14.8m to £16.2m, for 2018.
The family-owned restaurant and bar operator, which manages 11 venues across Ayrshire and east Scotland, invested £1.8m into new venues, its existing portfolio and staff development boosting its pre-tax profits.
During the year, Buzzworks secured its second venue outside Ayrshire – Scotts Port Edgar Marina – and began work on its 220-cover restaurant and bar situated against the Three Bridges and Firth of Forth.
In Bridge of Weir, the business transformed the former Archies lounge bar and kitchen to open its fifth House branded restaurant and bar The Coach House. The £1m development saw Buzzworks create 40 extra jobs for the town.
The group invested a further £400,000 in refurbishment works on its flagship House venue The Tree House in Ayr, alongside the purchase and renovation of the property next door, transforming it into a new venue – the T bar – providing a modern take on a traditional public house.
With its new venue opening and an extension to its portfolio, the annual results also identified a 6% increase in employee numbers (rising from 438 in 2017 to 466 in 2018).
Kenny Blair, managing director at Buzzworks Holdings, said: “2018 has seen the business grow further, as we opened our first venue outside of Ayrshire in Bridge of Weir. Now with two sites in the east and further negotiations on sites 13, 14 and 15, we are forging on with our planned growth strategy for the future and the focus is on making 2019 even more successful.
“Even with industry wide challenges including rising supplier costs, alongside the uncertainty of Brexit, we have continued to not only increase our turnover, but invest heavily in both the portfolio and our people.”
He added: “Our staff are what define us and are integral in creating the foundations of a long term, successful hospitality business. So much so, we have spent more than £100,000 in the last year alone to introduce industry leading work life balance initiatives for our people, including decreasing the working week without decreasing pay and paying overtime for every hour worked or time in lieu. We have also increased our training initiatives to encourage personal growth and development for everyone within the company.”