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D&D London enjoys “better than expected” Christmas trading

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D&D London enjoys “better than expected” Christmas trading

Restaurant group D&D London has reported robust trading during December with like-for-like revenue up 6%.

Des Gunewardena (pictured right with David Loewi), chairman and chief executive of D&D London, said that business was “better than expected” in the context of Brexit and uncertain financial markets.

Overall revenue during December increased by 11% year on year with turnover on Christmas Day up 20%. The strongest increase in revenue came from London restaurants Orrery (up 22%) and Aster (up 19%).

Gunewardena added: “We were very pleased with our like-for-like growth in revenues compared with a strong December last year. As was the case then it was great to see both our more recent openings as well as our longest established venues performing well. For the full month of December, six of our venues achieved £1m+ net revenues. Quaglino’s and 100 Wardour Street, our highest grossing restaurants, each achieving net revenues in excess of £1.4m.”

The company recently reported a 1% increase in revenue to £130.9m for its last full financial year to 31 March 2018, while EBITDA slipped to £11.6m from £13.1m and pre-tax losses increased from £4.1m to £5.7m.

D&D London had 36 restaurants in the UK in the capital, Leeds and Manchester, and five overseas in Paris, New York and Tokyo. It also operates the 80-bedroom South Place hotel in London

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