A boutique hotel, wedding venue, pub and restaurant operator has hailed its record results for its latest financial period despite 'subdued' sales and 'staffing challenges'.
Bowland Inns & Hotels, which trades as James’ Places, said that while the results for the six months to May 31, 2022, were "extremely positive", they could have been "significantly better".
The company is headquartered in Clitheroe and owns and operates a collection of historic buildings in the Ribble Valley, Lune Valley and the Yorkshire Dales.
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Its 11-strong portfolio features hotels, wedding venues, gastropubs and restaurants including Holmes Mill which is home to the group’s Bowland Brewery, Beer Hall and Food Hall, in addition to a 39-bedroom hotel and Everyman Cinema.
For the financial period, its turnover totalled £10.3m, up from £2.6m during the same period in 2021. It is also above the £9.2m it posted during the same six months in 2019, before the Covid-19 pandemic struck.
Its pre-tax profits also totalled £363,019 for the period. In the 18 months to November 28, 2021, the company's turnover totalled £14.3m and its pre-tax profits were £9m.
In May 2022, the group said it expected its turnover for the year to November would exceed £23m and its employees will pass the 450 mark.
According to new documents filed with Companies House, the firm's headcount stood at 393 as of May 31, 2022.
A statement signed off by the board said: "Although the six-month period ending 31 May 2022 was an extremely successful one overall with the group continuing to benefit from deferred weddings and in the most part a reduced VAT rate, turnover was subdued for at least half of the period due to the resurgence of Covid in the form of the Omicron variant.
"This variant surfaced in November and severely impacted our busy festive period, where we experienced a high level of cancellations of parties and group bookings.
"Casual trade was also heavily impacted through the reluctance of many of our customers to leave their homes.
"Although no weddings were cancelled, the number of guests (particularly evening guests) was affected in a similar way to casual trade.
"Our businesses were also impacted by staffing challenges, which have been widely felt across the industry.
"These challenges resulted in trade in some of our businesses have their activities suppressed with the reduction in the offer to our customers.
"In summary, although our results for the period are extremely positive and represent a record for the trading period, they could have been significantly better and the board are extremely positive about the businesses and their future potential."
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