Po Na Na to build on success of SchoolDisco

Po Na Na, the bars and nightclubs operator, plans to increase live music events across its outlets following the revamp of its largest venue in Hammersmith, London, and its Saturday night "SchoolDisco", which has attracted capacity crowds.

The group, which acquired full ownership of the Hammersmith Palais last year for £500,000, turned trading around at the west London venue, despite a profit warning in March, by opening its doors to the retro club night SchoolDisco.

Christian Arden, the group's chief executive, said: "We relaunched our original joint venture which has brought fantastic crowds. Since the year-end, Po Na Na Hammersmith has been trading well and making an operating contribution."

Po Na Na, which listed on the Alternative Investment Market last August, owns 58 bars nationwide. Mr Arden said: "The opening of more units has shown us the longevity of the brand. No one in the country is doing what we do – operating fresh, cool, laid-back bars, which are not too corporate or slick." He added the group's future lay in "exploiting the Po Na Na brand more widely ... through live music events or maybe records".

Po Na Na yesterday reported full-year pre-tax profits to 12 March of £1.53m, down 9 per cent. These were after exceptional costs related to the group's flotation and buying out the former Hammersmith Palais management. Sales increased 57 per cent to £30.2m. Its shares fell 3p to 111.5p.