Bar and restaurant group ETM reports 34.7% increase in turnover
Bar group ETM has reported a 34.7% increase in group turnover to £27m.
The 14-site strong group also saw group EBITDA increase by 202.6% to £2.7m supported by the openings of two new sites in the City of London: Long Arm Pub and Brewery and Broadleaf, as well as Maple at Westfield, Shepherd's Bush.
Earlier this year ETM, whose venues include the Botanist Broadgate, Greenwood at Nova in Victoria and rooftop destination Aviary in Finsbury Square, announced it had secured a £10m funding package with HSBC to support its continued expansion with a site confirmed for a sports-led venue in London Bridge.
Ed Martin, CEO, said: "This has been an incredible year for ETM. The industry is facing challenging trading conditions and considerable cost headwinds. Despite this, the group has clearly demonstrated that there is consumer demand for experience led venues that deliver on quality food, drink and sport.
"The funding from HSBC and landlord's continued demand for ETM's innovative venues means we have a strong site pipeline in place. We will continue to invest in our current portfolio and our infrastructure to ensure our offer remains relevant and differentiated."
