Company behind Ego and Rocket posts double-digit sales increase

05 May 2016 by
Company behind Ego and Rocket posts double-digit sales increase

3Sixty Restaurants, the company that owns the Ego and Rocket restaurant brands, has enjoyed a 15.8% increase in sales in 2015/2016.

Results for the year to March 2016 showed that sales had risen to a total of £17.4m, while the company, owned by Luke Johnson and James Horler, also saw "positive" like-for-like sales for both brands.

Site EBITDA was up 25% on the previous year to £1.9m, while group EBITDA was up 91% to just under £1.1m.

The group finished the year with net cash of £2.1m.

There are currently 10 Ego venues mostly located in the north of England, with an 11th, in Cannock, set to launch at the end of this month.

In 2014, 3Sixty announced plans to open Ego restaurants in pubs and the second of these, at the Beverley Arms in Ackworth, opened during the last trading year.

3Sixty said the Ackworth was trading ahead of expectations by some distance and that both pubs were delivering very strong returns on investment.

Meanwhile, 3Sixty runs four Rocket venues, with three in London and one in Nottingham. It closed its Holborn site during the year after it decided to exit the site for an undisclosed premium.

Chief executive James Horler said: "This year we have increased our confidence in the pub operating model and see this as the growth going forward. We are able to fund the growth ourselves and are actively seeking opportunities to invest in long commercial leases on suitable pub properties throughout the Midlands and North."

Ego to open 10th site in Ackworth pub >>

3Sixty Restaurants sees like-for-like sales boost despite revenue drop >>

3Sixty Restaurants secures ninth Ego site >>

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