Cash-rich Bass, the pubs-to-hotels group, outlined ambitious expansion plans as it posted a strong set of full-year results.

It said it aimed to expand both its international hotels arm, which includes the Inter-Continental and Crown Plaza brands, and its pubs business, which includes chains such as All Bar One.

Finance director Richard North said Bass was currently "scouring the globe" for hotels to fit into its brand.

He added more than £140 million would be spent over the coming year to convert the bulk of the 550 pubs it recently bought from Allied Domecq into branded outlets. Bass, which sold its brewing arm to Interbrew for £2.3 billion in August, said the hotels division had reported an "outstanding performance" over the past year, to the end of September, with Inter-Continental and Crown Plaza leading the market.

The Bass Retail Leisure business had also shown strong growth in a competitive market, with overall sales ahead by 3.8 per cent and branded outlets, such as All Bar One, now achieving a weekly take of £17,000.

Mr North revealed 78 Allied Domecq pubs had already been converted and sales were already 47 per cent higher than when Bass bought the chain. The group had set a target of 40 per cent growth.

Bass expects to have converted a further 300 by September next year.

Mr North added the review of the 1,029 smaller unbranded pubs within the group's pubs and restaurants business was continuing but their fate was undecided.

Bass said operating profit from its continuing operations had risen 24.8 per cent to £776 million in the year, on turnover of £3.8 billion, up 22.8 per cent compared with the year before.

Profit before tax and exceptional items was up 18.9 per cent to £756 million.