Holidays lift profits at Baldwin
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Your support makes all the difference.THE CAMP site operator and restaurateur Baldwin has doubled pre-tax profit for the year to 31 October, writes Robert Cole.
Baldwin earns most of its money organising holidays in France under canvas and in mobile homes. It also owns the Muswell chain of hamburger bars and Simpson's of Cornhill in the City of London.
Taxable profits rose 111 per cent to pounds 3.2m but this figure is flattered because last year's results were scarred by a pounds 1.1m write-off of an investment in London Clubs, the casino business.
Sandy Singh, chief executive, said: 'Despite the devaluation of sterling and the negative publicity resulting from the French lorry drivers' blockade, our European tent and mobile home holidays and French villa holidays increased in both sales and bookings.'
Underlying operating profit grew by 6 per cent. Earnings per share rose from 3p to 10.1p and the dividend rises to 3.5p from 3p. The shares jumped from 108p to 130p.
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