Old Monk has clearly spurned any vow of poverty. Full year turnover nearly doubled, rising from £6.4m to £11.4m. A pre-tax profit of £784,000 represents a considerable 61% improvement on the previous year. Chairman and chief executive Gerry Martin courageously (some might say fool-heartedly) floated the company on Aim amidst the turmoil of last autumn. In the event, the £3m expected from the offer linked with the AIM float failed to materialise, as it attracted a relatively measly £511,000. This probably contributed to the decision to return to the market in February for further funds. Thirteen new sites have been opened this year, costing £6.6m. Borrowings stood at an identical £6.6m, leaving gearing at 152%. Brokers Beeson Gregory predict that this will fall to 132% next year, or even lower if further equity is raised. Beeson Gregory deem it 'probable' that this will occur at some point during the current year. Pre-tax profit for the year ending 2000 is expected nearly to double to £1.3m, reflecting a predicted 27% rise in EPS. A maiden dividend of 0.18p was proposed.