29/06/2001
Another self-styled foot-and-mouth casualty, Bank's results for the 23 week period from 23 November (the date of the company's Aim debut) to 30 April were behind expectations and trading is still said to be difficult. A pre-tax profit of £92,000 was made during the period from its three restaurants, inclusive of £75,000 goodwill amortisation and £175,000 depreciation. Turnover totalled £3.75m. For what it is worth though, the three restaurants (Bank Aldwych, Bank Westminster - incorporating the Zander Bar, and Bank Birmingham) have attracted accolades over the trading period, and the board believes that its brand strength will carry it to better things. However, the £2m debt to be paid off this year looks to be a worry - Bank had less than £0.5m in the bank on 30 April.
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