4 January 2001
BAR NIGHTCLUBS CHRISTMAS TRADING STATEMENT
SALES STRONGLY AHEAD
Chorion's Bar Nightclub division, trading out of 12
locations, 10 of which are in London's West End, today
announces a very successful December trading period.
Net sales for the 5 week period of £5.3m, which include the
benefit of the 6 new operations opened during 2000, were 135%
ahead of last year.
Like for like sales were 18% better than the very strong
sales performance achieved in December 1999. Tiger Tiger in
London's Haymarket succeeded in recording a further 16%
increase on last year's levels that were regarded as
exceptional at the time.
Trading in the London units was strong both in the
established businesses and the new businesses opened during
the year, all of which traded ahead of expectations during
The strength, value and potential of the Tiger Tiger brand
has been clearly demonstrated at the recently opened Tiger
Tiger venues in Birmingham and Manchester. These have traded
significantly ahead of Chorion's investment criteria since
opening. During December the performance of both venues
improved still further.
Commenting on this performance Chorion Managing Director,
Nick Tamblyn, said,
'We are delighted with this excellent sales result for
December, which reflects the success of our robust programme
of new openings in 2000 and the increasing strength of our
innovative bar nightclub format.'
'I am particularly pleased with the Tiger Tiger trading. The
exceptional performance of the London Haymarket operation
confirms the durability of the brand with numerous revenue
records being broken in what was the unit's third Christmas
period. The much better than expected sales performance at
the new operations in Birmingham and Manchester demonstrates
the development potential that exists throughout the UK.
Three further Tiger Tiger venues are contracted to open
during 2001 at Portsmouth, Leeds and Croydon and the next
development phase has been accelerated. Planning and
licensing has already been secured in Newcastle and other
major locations are being advanced.'
For further information, contact:
Chorion PLC 020 7434 0030
Nick Tamblyn, Managing Director
Malcolm Gardner, Group Finance Director
Square Mile BSMG 020 7601 1000
Kevin Smith/Becky Jewers