Corporate: History
| 1935 | Under the ownership of Taylor Clark plc, Caledonian Associated Cinemas Limited (CAC) was set up to bring together four cinema companies in the north of Scotland. Later it expanded through acquisition its operations across the Highlands, Grampian, Perthshire and the Borders. |
| 1936 | The company was listed on the Glasgow Stock Exchange and later on the Aberdeen and London Stock Exchanges. At one time it was one of the most northerly quoted companies on the LSE. |
| 1936–1950s | CAC became a major force in the local cinema market in Scotland through the acquisition and merger of other cinema companies. At its height CAC operated 51 cinemas in Scotland. |
| 1960s–1970s | The advent of television saw the gradual decline of cinema audiences and CAC had to rationalise its operation with a number of cinemas forced to close. |
| 1970 | The Gaming Act 1968 came into operation and bingo was introduced into the UK. Seizing this opportunity, a number of the company’s cinemas were converted into either bingo clubs or cine/bingo clubs showing films on a restricted number of nights with bingo the rest of the week. Leading from the front, The Palace, in Huntly Street, Inverness, the company’s birthplace and headquarters, was one of the first bingo clubs to come into existence in Scotland. |
| 1975-1980s | Taylor Clark plc the majority shareholder of CAC, bought out all outside shareholding and took control of the remaining cinema and bingo estate. Prior to the arrival of the multiplex cinema in the UK, CAC’s cinemas were converted into twin or triple screen cinemas, whilst continual investment in the bingo clubs kept pace with the technological pace of the change within the gaming industry. CAC also acquired the Littlejohn restaurant chain and Flicks, Scotland’s leading nightclub operator. |
| 1994 | CAC acquired a chain of bingo clubs in the North East of England, which traded under the name of Fairworld. |
| 1998-2001 | Executive directors Peter Perrins, George Carter, Brian King and Christopher Barr bought the bingo interest of Taylor Clark plc with the assistance of venture capitalist Dunedin Capital Partners Ltd. A new holding company DeMure Limited was formed, with the bingo operation now trading under the new brand ‘Carlton Clubs’. The Company purchased land in Inverness for its first 21st Century concept bingo club. |
| 2002 | In the year January – December 2001 the company recorded turnover of £18.4m, a 6% rise over the previous year. The four executive directors carried out a secondary buyout of DeMure Limited and bought out the venture capital interest. DeMure Limited is a private company, substantially owned (95%) by the four executive directors. Carlton Clubs remains committed to maintaining a corporate presence in the Highland with its headquarters in Inverness. |
| 2003 | Year on year, the company has shown a rise in turnover and profit. Turnover increased to £20.05m, up 8.8% and profits up 11% to £2.7m for the year to December 02. A Public Inquiry was held in March/April 2003 to hear the Company’s appeal against The Highland Council’s decision to refuse outline planning consent for a bingo club on its Beechwood site in Inverness. The Reporter found in favour of the Company, and licensing for the site has since been granted. In December 2003 Carlton Clubs signed a deal with Grosvenor Developments to acquire a 3.3-acre site on Fife Leisure Park, Dunfermline, adjacent to the M90 motorway, for a second new bingo club. |
| 2004 | The underlying strong trading shown in previous years continued with turnover rising by 6% to £21.9m in the year to December 03; profit dipped slightly to £2.5m as a result of the costs incurred at the Inverness Public Inquiry The Fife Leisure Park project was granted detailed planning permission in May; an application for detailed approval for the Inverness project is currently being considered by The Highland Council. Anticipated start dates for these works are Summer 2004. |
DeMure Ltd, holding company for Carlton Clubs plc Historic summary of results
Years to end December |
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| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |
| Turnover | £14,227,415 | £14,192,421 | £17,446,305 | £18,419,140 | £20,046,530 | £21,195,099 |
| Operating Profit | £2,534,776 | £2,599,363 | £2,819,780 | £2,900,513 | £3,223,969 | £3,363,106 |
| Profit before Tax | £1,902,906 | £2,223,880 | £2,481,187 | £2,561,783 | £2,558,970 | £2,737,209 |
| Profit after Tax | £1,400,245 | £1,598,807 | £1,756,329 | £1,677,500 | £1,627,442 | £1,713,119 |
All enquiries please call:
Indigo
Tel: 0131 554 1230
Mobile: 07810 891 831
Email: emckean@indigopr.com
