Pub company Barracuda smashes through £100m barrier

Pub company Barracuda has smashed through the £100m turnover barrier for the first time in its history.

The company, founded in July 2000, saw turnover increase in the year ended 1 October by 15% to £108.8m (2004: £94.4m).

Food sales at the group increased 30% over the year to £14m, compared with £10.8m a year ago.

Earnings before interest, tax, depreciation and amortisation were 16% higher at £29.3m (2004: £25.3m).

Barracuda chief executive Mark McQuater said: "Barracuda's focus on well defined premium brands in high-quality niche markets is now a proven formula for success and we are now looking forward to taking the group on to the next stage in its development."

The company, which opened 24 pubs in the period and nine more since the year-end to take its total to 170, said trading over Christmas and New Year had been strong with sales up 23%.

It plans to open 30 pubs in total this year across its Varsity, Smith & Jones, Juniper Inns and Barracuda Bar brands.

By Chris Druce

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