Deltic returns to growth despite market challenges

17 July 2018 by
Deltic returns to growth despite market challenges

Late night bar and club operator Deltic has reported a return to turnover, earnings and profit growth in its annual results.

The group's annual results for the year ended 24 February 2018 detailed turnover of £106.5m, up from £102.2m last year, with total sales growth of 4.2% and like-for-like growth of 4.9%.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) exceeded Deltic's forecast at £14.5m, compared to £13.2m in 2017, and its focus on pre-booked sales has been maintained with growth of 8%.

Marks also said the group is "keeping its options open" in a report in The Timeswhich suggested the group is considering a possible stock market listing.

Despite the market headwinds including business rates, energy levies, National Minimum Wage and Living Wage increases, changes in alcohol duties and the introduction of the apprenticeship levy, Deltic expressed confidence in its ability to invest in its offerings.

During the financial year the group invested £5.7m in refurbishing and relaunching 10 bars and clubs across the country, which included Portsmouth PRYZM, a number of ATIKs, the company's twin room brand, a Steinbeck & Shaw bar adjacent to Brighton PRYZM and a Bar&Beyond in Norwich.

The group plans to invest a further £5.5m in the coming year, completing its refurbishment programme and allowing the company to put more funding towards acquisitions. The first of these acquisitions was successfully completed in March 2018 with the addition of the Terrace in Exeter.

Deltic Group is the UK's largest late night bar and club operator with 55 clubs and bars throughout the UK.

Consumers spending more on nights out and going out more often >>

Deltic sees £1.5m loss due to a "warm and quiet summer" >>

Deltic acquires 3% stake in Revolution Bars >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking