CI TRADERS chief executive Martin Bralsford believes the company has reasonable prospects for the coming year. ‘We’re doing all right,’ he said following the company’s fourth AGM last week.

‘We’re bullish on property and we’re seeing an upswing in the retail sector.’

Total third-party turnover was 2.4% ahead of the same period in 2005 and Safeway in particular was showing improvements, with an increase

of 13.3% on last year’s figure, he

added.

But in general terms, Mr Bralsford said trading conditions in the first 17 weeks of the current financial year had been no better than in 2005. Group operating profit was also down by 8.5% on last year.

‘Signs of recovery in the retail

sector have been offset by no improvement or perhaps even a further decline in

the hotel, restaurant and catering

sectors.’

The group intends to refurbish the St Pierre Park Hotel, although a definitive date could not be confirmed.

Plans include reducing the number of rooms from 130 to between 80 and 90, increasing the size of each and decorating them to a higher standard.

Outline plans have also been put forward for the construction of a 60-room hotel at the Guernsey Brewery site with a sea-facing restaurant above.

Other intended developments include the building of 110,000sq. ft of retail space at Admiral Park and the conversion of the former Guppy’s warehouse in Glategny Esplanade into offices.

Mr Bralsford said that some of the proceeds of the £100m. from the sale of the B&Q site, two flagship office blocks and a set of flats would go toward reducing the company’s debt, which stands at more than £200m.

Checkers is also planning to strengthen its trading relationship with Waitrose.