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Newcastle-based operator doubles pre-tax profits as turnover tops £30m

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The company behind some of Newcastle’s best hospitality businesses has more than doubled its pre-tax profits with turnover topping the £30m mark.

Gainford Group, which operates the Vermont Hotel and The County Hotel in the city, saw turnover rise 16% to £34.7m for the year ending 31 December 2018, while pre-tax profit increased from £3.1m to £6.5m for the period.

The group’s Newcastle city centre venues – Livello, Aveika, The County Hotel, and the Vermont Hotel – all achieved higher sales and improved profitability.

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The company also completed an extensive refurbishment project on The County Hotel Apartments last year which opened in October.

Gainford Group also manages a portfolio of 13 nursing and residential care homes across the North East and the Bright Star nurseries in Birtley and Chester-le-Street.

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Zoe Monk

The author Zoe Monk

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