Oakman reports 118% sales increase

Oakman Inns, the company headed by former Whitbread executive Peter Borg-Neal, has reported a sales increase of 118% in its most recent year to 4 April 2010.

The company saw turn-over jump to £3.8m — up more than £2m on the year before.

The company stated: "A small increase in the operating loss from £187,435 in 2009 to £201,419 reflects both the continual investment in central costs to grow the business and the initial acquisition costs for new sites being written off."

Net asset value rose from £944,114 to £1.4m. The company also has a half share in a site called the British Larder, a Punch leased venue in Woodbridge, Suffolk, which opened last August.

Last June, Oakman Inns secured an additional £2.25m in bank debt.

Borg-Neal, 49, who has also worked for Taylor Walker and founded the Forno Vivo Italian restaurant brand, set up Oakman at the end of 2007.

The company has also bought the lease on the Kings Arms Hotel in Berkhamsted, Herts, a site that has seen a £1m investment.