ETM Group reports 17% increase in turnover
Pub and restaurant company ETM Group has reported a strong year of growth with turnover up 17% to £22.2m for the year ending 29 February 2016.
While group EBITDA was up 35% from £1.7m in 2015 to £2.3m for the period.
The 12-strong group said it has continued to make improvements in site efficiencies and that trading exceeded expectations for the Botanist at Broadgate Circle in London, which now serves more than 250,000 people a month.
The firm has recently opened two new sites at the Montcalm hotel, Finsbury Square - Burdock on the ground floor of the hotel in November and London's newest rooftop bar and restaurant, the Aviary, which opens this week.
January 2017 will see the opening of Greenwood, an 11,000 sq ft site located in the new Nova development in Victoria.
ETM Group said it plans to acquire more sites in the coming year and has a number of refurbishments planned for 2017.
Earlier this month, ETM Group announced the appointment of Landen Prescott as chief financial officer to strengthen its senior team and accelerate future growth.
Ed Martin, ETM founder, said: "We are extremely pleased with the group's performance - despite tough trading conditions we have delivered positive like for like growth.
"We are delighted to have strengthened our management team and will continue to improve our operation, especially in light of the strong headwinds facing the industry including business rates increases, living wage and food cost pressure."
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