The owners of leisure phenomenon Stack have revealed more shipping container hubs are on the way, as they make progress on their second scheme.
Danieli Holdings, based in Gosforth, Newcastle, operates in the healthcare, security and property development sectors but is best known for its leisure venues, led by Yolo Ponteland, Yolo Townhouse in Newcastle and the city centre Stack scheme, which has transformed the former Odeon cinema site into an all-day drinking, shopping and dining venue.
The group has now published consolidated accounts for all of its divisions, which reveal its leisure offering to be the star performer last year.
And as it moves towards a Spring opening date for a second Stack scheme, a £2.5m development on Seaburn seafront near Sunderland, it has said further schemes under the Stack brand could be on the way.
The group can’t reveal where the latest Stack scheme will be built, but said it will be in the North East.
Neill Winch, chief executive of Danieli Holdings said: “Stack has been very well received, however all of our leisure sites have performed very well this year.
“Of the three divisions the leisure sector is outperforming the other divisions with substantial growth forecast for the year 19/20 and 20/21.
“Looking ahead, the extension to The Muddler is under way and we hope to get this open by August of this year, and The Duke of Wellington conversion will begin in early 2021.
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“We’ve had huge growth year-on-year within the leisure sector, with additional Stack schemes in construction and in the pipeline, as well as the Muddler extension and the Duke conversion, most of which will fall into the trading year 20/21. Our leisure sector certainly has exciting times ahead.
“The directors are happy with the performance of all three divisions, security, care and leisure and we are forecasting record turnover and EBITDA for the year to the 30th of April 2020.”
The news comes as accounts for the year ended April 30 2019 show a 21% increase in turnover, from £24m to £29m, following rising sales within its leisure offerings.
Operating profit, however, dropped 24% from £1.74m to £1.32m, which directors said including an exceptional item within its care business, Northridge Healthcare.
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The business, which offers short term respite care, incurred the £424,000 exceptional cost for repair costs carried out to keep the property in high standards. Adjusted operating profit was £1.75m, a marginal increase on 2018.
Meanwhile, adjusted ebitda came in at £2.83m, up from £2.44m.
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Within its Phoenix Eye security division, turnover increased from £14.5m for the year to April 18 to £16.2m for the year to April 19, which is an increase of 11.7%.
The biggest success story was its leisure division, representing sales in venues including Yolo, The Muddler, Stack and the Duke of Wellington, which grew 97% from £3.74m to £7.37m.
Looking ahead, the firm expects to see a £10m leap in sales when accounts are published this April, and it is set for significant expansion this year.