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Agellus Hotels reports year-on-year sales up 8% in latest financial results

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Suffolk-based hospitality group Agellus Hotels has posted its latest financial results highlighting an 8% year-on-year sales increase across the portfolio.

The group, which consists of five properties in East Anglia, recorded profit before tax for the year to 25 June 2017 at £242k, demonstrating a slight uplift compared to £213k for 2016.

Net assets totalled £6.8m, up from £6.7m on the previous year.

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Agellus Hotels has been operating for more than 10 years, having started in 2005 when owners Sarah and Mark Harrod purchased The Westlecrown in Suffolk.

They went on to acquire Tuddenham Mill and Oundle Mill the following year and The Ship Inn in Dunwich soon after.

In July 2015, the company underwent a restructuring, with the ultimate parent company changing from Lifecrown Investments Limited to Agellus Holdings Limited.

Later in 2015, the group acquired The Lifeboat Inn and The Chequers Inn, two former Marco Pierre White properties in receivership.

Oundle Mill has been closed since 2016, with the owners ‘confident’ that the property will finally be sold in 2017/18.

The latest financial statement from Agellus Hotels also stressed the company’s commitment to staff training and development, which will continue to be a major focus for the group going forward.

Tags : Agellus Hotelsfinancial resultshospitality grouphotelspropertySuffolk
Zoe Monk

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