Busy tables put LCI on a winner
13 April 2012
CASINOS operator London Clubs International has posted a sharp increase in full-year profit thanks to improved trading at its British and overseas sites.
Operating profit rose to £24.1m in the year to 31 March before one-offs, from £160,000 in the year-earlier period. Turnover rose to £159.5m from £152.5m while earnings before one-offs returned to the black at 6.4p a share after a 10.7p loss a year earlier.
LCI's chief financial officer Barry Hardy said the company had cut net debt by £60m to £160m, in line with a plan agreed with principal lender, Bank of Nova Scotia.
