Tributes are pouring in for BBC Dragons' Den star Drew Cockton who has tragically died at the age of just 36.
The Botanist and The Oast House owner to create 500 jobs a year after returning to profit
13.10.2022 - 11:59 / manchestereveningnews.co.uk
The owner of The Oast House in Spinningfields as well as The Botanist on Deansgate and in Didsbury has returned to making a profit for the first time since 2019 after its sales surpassed pre-pandemic levels.
Alderley Edge-headquartered New World Trading Company is also aiming to open between five and eight new venues a year, creating around 500 jobs annually. The company currently operates 35 locations across England and Wales.
Its brands also include The Florist, The Club House, The Canal House, The Trading House, The Smugglers Cove and The Furnace and is backed by Graphite Capital which is also a long-time investor in steak restaurant Hawksmoor, which has a site on Deansgate.
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For the 12 months to the end of March 2022, the business has reported a turnover of £59.9m, up from the £17.1m it posted in the prior year. The new figure is also higher than the £55.3m it achieved in the year to March 2020.
The company's adjusted EBITDA rose to £6.7m while its profits after tax totalled £1.2m, up from a loss of £4.8m 12 months ago. In the year to March 2020, it also made a loss after tax of £4.3m. The last time the business made a profit after tax was in the year to March 2019.
The results come after chief executive Jesper Friis stepped down from his role in August after almost two and a half years.
Chief financial officer Jim Pickworth said: "Despite trading under restrictions for the first quarter of our financial year and seeing significantly reduced trade over Christmas due to the Omicron variant of Covid-19, our results for the year were excellent.
"We’re now ahead compared to March 2020, before the pandemic affected our business, which is
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