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Be At One sees turnover increase by 32%

15 December 2016 by
Be At One sees turnover increase by 32%

Cocktail bar group Be At One has reported that its turnover increased by 32% from £22.5m to £29.8m for the 12 months to 27 March 2016.

The firm's store adjusted earnings before interest, depreciation and amortisation (EBITDA) also increased by 30% to £7.5m, with group adjusted EBITDA up 42% to £4.7m.

Like-for-like sales were up 9%, continuing the group's like-for-like growth since it was founded in 1998.

Be At One said it had experienced a significant period of growth as it continued with its national expansion, opening new bars in Cardiff, Leeds, Manchester, Norwich and Sheffield (pictured).

It opened a total of six new bars during the period including another site in the capital in Camden.

Since the year end, the company has also launched bars in Birmingham, Liverpool and Nottingham. It now has a total of 31, with 18 in London, and employs more than 300 full-time bartenders.

The firm said it was continuing to actively seek locations in cities that culturally match its offering and was planning to launch six to seven new bars annually.

Steve Locke, director at Be At One, said: "We are a business that continues to define and lead the specialist cocktail bar market. We have continued to grow over the past 18 years and are extremely proud that the Be At One experience can now be enjoyed in 14 cities across the UK.

"While our business has developed and evolved, it is has also remained the same since it was founded in 1998, in that we have always been resolutely focused on the things that made our first bar in Battersea Rise so successful: excellent-quality cocktails, with warm, friendly service in a fun atmosphere, delivered by people who care."

He added: "We remain committed to these values, to building the business one guest at a time and to making decisions through the eyes of bartenders, with an absolute focus on the quality of our craft and the customer experience. This remains the recipe for our continued, measured growth and we are tremendously excited for the future of the business."

Goose Island takes on Be At One site for first London bar >>

Private equity firm invests £8m in Be At One >>

Be At One to open four more sites as profit and revenue climb >>

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