Edinburgh-based Caledonian Heritable was originally founded as a housing developer. But in the early 1990s the company sold its housing interests and focused on sectors with stronger rates of return. Caledonian now owns 100 of Edinburgh’s pubs, and runs restaurants and betting shops, along with such high-profile nightclubs as Tramps in London. It also has a large waste management arm that deals with skip collection, and the disposal of household, clinical and heavy industrial waste for large companies such as Scottish Coal. Profits have grown by 35% pa, from £2m in 1995 to £4.9m in 1998. The company attributes this to the fact that costs have remained largely stable while sales have grown by 40% pa in the same period to £17.9m.
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