Operating profits at Northern Irish hospitality group Beannchor almost doubled during the year that ended on June 30, 2018, rising to £11.2 million while turnover increased 9% to £25.8 million.
The rise in the group's operating profits was primarily due to a reversal of a previous impairment of fixed assets, according to The Times.
Portfolio And Projects
Beannchor's hotel portfolio includes the Bullitt and Merchant hotels of Belfast. The group recently announced that it is investing £500,000 in a revamp of The Cloth Ear bar, which is part of the latter hotel.
Beannchor is also currently developing a new £4 million hotel at Lisburn Square.
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