Loch Fyne Restaurants (LFR) has reported a three-fold increase in profits for the year ending 31 December 2003 – to £0.76m.

Group turnover for the company, which operates the Loch Fyne and Le Petit Blanc restaurant brands, also saw a 39 per cent increase in turnover, from £15.7m in 2002 to £21.8m last year.

During the year, LFR opened three further Loch Fyne restaurants and in August acquired 75 per cent of Le Petit Blanc – while retaining the expertise of chef and founder, Raymond Blanc.

Since the acquisition, Le Petit Blanc venues in Oxford and Cheltenham have been refurbished and the Manchester brasserie is currently being revamped. A new venue will be opened in Tunbridge Wells in June.

Two further Loch Fyne sites are also due to open this year, the first in Guildford in June and a second a Bristol in July.

Mark Derry, managing director, said: “Our performance has been more than satisfactory in a tough year.

“We now have two very strong brands and will continue our strategy of double digit growth – something we aim to do from within our cashflow. While several sites have exceeded our expectations this year, those that do not perform to expected levels will be divested.”

The company intends to expand both the Loch Fyne and Le Petit Blanc brands through into 2005 at the rate of four or five new restaurants per year. Details: www.loch-fyne.com