Bank Restaurant Group - the AIM-listed restaurant operator - said growing sales at its Birmingham outlet contributed to a sharp rise in pretax profit in the first half of its financial year.
The group, which also owns restaurants in Aldwych and Westminster, said pretax profit for the period to the end of April was #170,000, up from just #13,000 a year earlier.
Sales at the Bank restaurant in Birmingham were up three per cent on last year?s overall figure.
The firm also highlighted the outlet?s success in winning an award in the Birmingham Post?s prestigious Restaurant of the Year competition.
Profit before taxation, depreciation and amortisation of goodwill was up 43 per cent to #457,000 on turnover of #4.72 million compared with #4.5 million last time.
New executive chairman Robert Breare said the results were a ?terrific opportunity? to act as a consolidator within the restaurant sector to benefit from increasing purchasing power and reducing per unit central costs.
?With Bank trading well we are in a position to embark on this strategy with a strong foundation,? he said.
Mr Smith said the company was looking to establish sites both in London and across the provinces. The company also says that the previously announced discussions with Conran concerning the possible acquisition of the Zinc Bar and Grill restaurants - which have an outlet in Gas Street Basin, Birmingham - are continuing. Conran should remain a significant investor in the company.