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Busy period of transactions sends profits soaring at Scots leisure player g1 group
- Article from:
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Press and Journal, The Aberdeen (UK)
- Article date:
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October 31, 2006
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Copyright informationCopyright 2006 Press and Journal, The Aberdeen (UK). Provided by ProQuest LLC. (Hide copyright information)
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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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