Living Ventures targets £45m sales for 2012/13
Bar and restaurant company Living Ventures, which owns the Gusto restaurant chain, is targeting sales of £45m in 2012/13, having seen a 39% rise in sales in 2011/12.
Living Ventures recorded sales of £38.9m in the year to 31 March 2012, while earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding the costs of opening new venues, grew 59% to £3m.
Living Ventures said its Gusto and Blackhouse brands had continued to grow during the year, with total like for like sales 4% higher.
Two sites in Manchester were opened in the year: Oast House and Australasia. Since the year end, Living Ventures has opened a second Alchemist in Manchester and the Botanist in Alderley Edge. The group now operates from 27 venues.
"We continue to focus on service excellence, the quality of our food and our training programmes," said managing director Tim Bacon.
"We are very proud that these continue to be recognised both within the industry and externally."
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By Neil Gerrard
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