GROWTH in profits earned on its Dublin activities contributed to sharply improved financial results at the Break for the border bars and restaurants group, taking in the Gaiety Theatre. Pre-tax profits, after a Pounds 700,000 interest charge, rose 59 per cent to Pounds 1.8 million sterling in the year to March 31st on turnover up 30 per cent at Pounds 24.7 million.

The main bars and restaurants division increased its operating profits before interest by 45 per cent to Pounds 1.95 million on turnover up 5 per cent. Chairman, Mr Robert Gunlack said the "outstanding performer" was the Break for the Border outlet in Dublin which benefited from the redesign of its layout and increase of its floor space.

The Gaiety Theatre, acquired - for an effective Pounds 750,000 in January 1996, is parts of the group's music theatre division where operating profits rose 29 per cent to Pounds 910,000 on turnover up 76 per cent at Pounds 6.88 million. Mr Gunlack said the Gaiety performed "signifigantly ahead of expectations".

Disclosure of the annual figures comes two months after the group raised Pounds 3 million through a one-for-four "rights" issue at SIP to reduce borrowings and fund development of a new Break for the Border outlet in Leeds.

Receipt of the additional equity capital has reduced balance sheet gearing from 442 per cent to a proforma 138 per cent. Fully-diluted earnings per share, excluding dilution from the rights issue, increased 45 per cent to 4.l9p. Total dividend payments are 9 per cent higher at l.8p per share.

Break for the Border shares have been a weak market since the equity cash-call was announced in April, falling from 66p to 44p ahead of the figures. The shares improved 2p to 46p on the results.