Springbok surge lifts Old Monk

PUBS and bars operator Old Monk toasted the success of its Springbok sports bar chain as half-year profits surged ahead.

The group said it had been 'delighted' with the brand's early progress, particularly the Christmas trading performance of two of the latest Springbok venues at Cheltenham and Manchester.

Old Monk said: 'All the bars have done well from a very active sporting calendar, which is likely to increase still further over the coming year.'

There are currently a handful of Springbok bars, although Old Monk has said it sees the operation as the driver for company growth.

However it also warned that trading had been less rewarding in some of its other pubs and restaurants during the past few months. In the six months to October 27, London-based Old Monk said its turnover increased 41% to £14.7m, while pre-tax profits lifted 61% to £628,000.

The company, which has 40 venues around the country, said it would look to further develop its presence in Cardiff.

Old Monk already has two successful venues in the Welsh city but has now identified two further opportunities to open pubs there.

It added: 'These sites have planning permission and late licences in place, which will add over 2,000 capacity per night once they open for business.'