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Balans Soho Society reports ‘record trading' and announces new site

24 January 2017 by
Balans Soho Society reports ‘record trading' and announces new site

Following a rebrand in 2015 and the subsequent refurbishment of its five restaurants and bars, Balans Soho Society has announced an 18.3% yearly like-for-like increase in sales for the year ending 31 December 2016.

Earnings before interest, tax, depreciation and amortisation (EBITDA) and the refurbishment and opening costs rose by 43.7% on the back of this sales growth. A new Balans Soho Society opened on Monmouth Street in London's Seven Dials last summer (pictured).

The company has also announced the acquisition of the former Honky Tonk premises in Clapham, which is due to reopen as the first Balans Soho Society in London south of the river in March 2017.

Balans Soho Society began as a sandwich shop on Old Compton Street in 1987.

David Taylor, owner-manager of Balans Soho Society, said: "During a period when trading conditions for restaurants everywhere can be said to be somewhat challenging, I'm really delighted that the reinvigorated Balans Soho Society is bucking the trend and proving to be increasingly popular. We're anticipating maintaining momentum moving into 2017 as we continue to open new sites."

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