Drake & Morgan sees record Christmas sales

Drake & Morgan has reported its financial results for the year ended 31 March 2025, including a record Christmas trading for the second consecutive year.

Like-for-like sales were up 15% for the five-week festive period in 2024.

The London-based bar and restaurant group backed by Bowmark Capital reported turnover of £44.5m for the year, which was in line with the previous year’s trading.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) was of £4.7m, compared to £4.4m the prior year.

The group said its current trading was “proving resilient” with like-for-like sales ahead of last year, and the business set to deliver yet another a record Christmas in 2025.

Chief financial officer David King said: “The results for the year to March 2025 highlight the resilience of the business despite a challenging first half of the year, marked by unseasonably wet weather and one of the coolest summers in nearly a decade, affecting trading across our outdoor terraces. Adjusted EBITDA increased to £4.7m driven by easing inflationary pressures – most notably reduced energy costs – together with the positive impact of ongoing cost-saving initiatives.

“Since the year end, trading has outperformed the prior year and we are set to have another record-breaking Christmas with many of our bars once again achieving record days and weeks. The board remain confident in the business and is optimistic for the year ahead.”