Newspaper article from our research archive:

Busy period of transactions sends profits soaring at Scots leisure player g1 group

Scottish leisure operator G1 Group said in its latest annual report, just released by Companies House, that the year to March 31 was dominated by transaction activity, both in acquisitions and disposals.

Chairman Brian McGhee said acquisitions took G1's portfolio to around 100 units, which were valued in the year-end balance sheet at pounds62million.

He also said disposals brought substantial gains. The accounts show that gains on the sale of fixed assets during the year were pounds4.895million.

Mr McGhee said acquisitions in Glasgow and throughout Scotland made significant demands on the group's development schedule, as had structural modification of properties to address the smoking ban.

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