Smollensky’s operator posts sales growth of 24%

2nd February 2012, 5:02pm

Kornicis Group, operators of Jamies Wine Bars, Smollensky’s, Henry J Bean’s and a number of independent City sites has reported a 24% sales increase in the five weeks to December 31st 2011.

The strong performance over the festive period, despite concerns from the economic downturn, included a 15% increase in like-for-like sales in the five week period.

Jamies, one of the companies key brand formats, saw like-for-like sales up 20% on 2010 with encouraging pre-booked numbers and a strong walk up trade. The group's central London sites saw a particularly strong performance, further boosted by the two newly acquired sites at Ludgate Hill and St Mary at Hill.

Kornicis chief executive Nick Tamblyn commented on the pleasing results: "Much has already been said concerning the snow effect in the previous year when comparing like for like performance for the Christmas period just ended. Notwithstanding the soft comparables of 2010, these are impressive results and Kornicis will continue focusing its future growth into the central London area."

Mark Owen of Kornicis' principal shareholder NBGI Private Equity added: "This market leading festive trading performance at Kornicis has fully justified our ongoing backing for the management team and brands. Further funding is in place to continue the expansion of the Kornicis brands, and to accelerate the Group's growth."

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