Pub group SFI has enjoyed a 22% rise in pre-tax profits to �9.3bn ($13.3m) during the second half of last year.

SFI, whose branded bars include the Slug and Lettuce, Bar Med and Litten Tree chains, is in the middle of an expansion drive aimed at doubling the firm's size.

Chairman Tony Hill is cutting back on his executive role to help plan for the future.

Andrew Latham, the current retail managing director, will pick up the reins as chief executive on 2 April.

"It is now time for younger hands to take the helm to realise the considerable opportunities in front of us," Mr Hill said.

SFI plans to double the size of its Slug and Lettuce chain to 60 pubs by the summer, and is converting 28 Parisa Cafe Bars bought for the purpose.

The firm aims to take a 20% share of the estimated �2.5bn market for High Street bars as it rolls out its brands nationwide.