Restaurant group Gaucho Holdings, which operates the Gaucho and Cau brands, has seen a 15% increase in sales driven by expansion.
Annual turnover for the group in the year to 31 December 2015 stood at £70.3m, according to the company's latest accounts lodged at Companies House, up from £61.4m in 2014. It also reports EBITDA before pre-opening costs for the year at £11.9m, compared with £11m in 2014. It says both sales and EBITDA growth was driven primarily by the expansion of Cau UK, with Gaucho continuing to trade in line with expectations.
Loss after tax for the year improved by £3.4m to a loss position of £6.4m.
2016 has seen the continued roll-out of the Cau brand, with seven sites opening in the UK (Bath, Birmingham, Harrogate, Edinburgh, Leamington Spa, Leeds and Southampton). Investment continues in the Gaucho brand, including refurbishments at both its Piccadilly (pictured) and Broadgate sites.
Gaucho Group pushes forward with refurbishment programme >>