The Sefton Group has confirmed its third successive set of record results with the publication of its most recent Report and Audited Accounts.

In his fourth annual report, Group Executive Chairman Graham Ferguson Lacey confirmed 'continued substantial growth' in resepect of the 'decision to balance our Group’s operating divisions of Hospitality and Leisure with the acquisition of a portfolio of high quality investment properties'.

The Accounts confirmed that Group turnover for the period of fourteen months (1st November 2007 to 31st December 2008) was ?32.5 million – an increase of 64%; for the comparable twelve-month period to 31st October 2008, Group turnover was ?26.5 million - an increase of 34%.

The operating profit of ?3.04 million, compared with the previous ?1.9 million, showed an increase of 59% with profit before tax of ?824,916 compared with the previous year’s ?616,413, an increase of 34%.

The Group ended the period with total tangible fixed assets and investment properties of ?96.7 million, compared with ?51 million in the prior year – an increase of 90%. 

Mr Ferguson Lacey commented 'I am delighted to confirm that our five-star luxury suites are due to be completed in time for the TT this year. This ?3 million investment will provide nine luxury suites and create a new standard of five-star suite accommodation on the Island.

'The addition of the suites will bring to ?10 million the amount the Group has invested over the last four years on its portfolio of hotel and leisure facilities, by increasing and maintaining the quality of our facilities and service, ensuring that we remain the premier hospitality and leisure company on the Island'.

In his report, Chief Operating Officer Mark Lewin commented 'Under Director David Woodiwiss’ leadership, our historic core area of hospitality had a solid fourteen months, with strong results seen in Accommodation and in our Conference and Banqueting areas. 

'The re-introduction of the carvery lunches at the Paragon restaurant; our increased business from Sir Norman’s; our full year of Paramount City nightclub; our creation of the new Pizza Palace at the Palace Hilton Hotel; and the new Tapas restaurant at Clinch’s added additional revenue to our base, and are examples of our continued investment commitment'.

Turning to its Leisure Division, Mr Lewin confirmed that under the Division’s leadership of Director Adrian Brockhouse, of particular note was the strong performance from the Palace Cinema as a result of a greater choice of film times with extra screenings, leading to an increase in attendances up 15% in the last six months of 2008, when compared to the equivalent period in 2007.

'Our Property Division has proved an important balance to the seasonal nature of our operating businesses, especially in the current climate' Mr Lewin went on, highlighting the acquisition of Manx Properties plc investment properties with its blue chip tenants that provide a reliable revenue stream to the Group.

Since the end of 2008, the Group has acquired two additional investment properties with Samuel Harris House and Cayman National House.

The Group also confirmed that the continued success of large capital projects such as Janet’s Corner Phases 2 and 3, the Airport Traffic Control Tower and the Villa Marina Arcade were all a great testament to the capability of Parkinson Ltd, and that it had since the end of 2008 agreed contracts on two new affordable housing schemes with a full order book extending beyond the next twelve months. 

Over the last four years, the Sefton Group has invested more than ?10 million in capital investment improvements in its Hotel and Leisure facilities on the Island and has additionally invested more than ?75 million through acquisitions.   These investments are continuing with the refurbishment of the Sefton's 'double rosette' Gallery restaurant and Fountain Health Club and Spa and, in June, the opening of the hotel's multi-million pound luxury five star suites.

The Group’s plans for 'The Wave' lesiure complex are progressing well and are on track to complete all the initial site investigations, consultations, pre-conditions and contractual agreements by the end of June, in readiness to progress to Tynwald in July.

Finally, the Group also confirmed that its first quarter trading has been significantly ahead of budget and the Mr Ferguson Lacey concluded 'I believe that, notwithstanding the challenging current climate, the Group will once more enjoy record profits in 2009.'