Infrastructure rejig sees ETM revenue jump 12%
ETM, the 12-strong bar and restaurant group which owns the Botanist, has seen an increase of 11.6% in turnover due to "significant investment in the company's infrastructure."
For the year ending 29 February 2017, group turnover increased to £18.2m, up 11.6% from 2016 (£16.3m) following the successful sale of the Gun in June 2016.
The Gun in Docklands, London, was bought by Fuller's in July last year.
Group EBITDA for operations was down 31% from £1.6m in 2016 to £1.1m due to "new site opening costs and an increased infrastructure to support significant growth plans."
The restructure focused mainly on a brand strategy rebrand which categorises the group's bars into three categories: vibrant bars; food led Great British dining; and crafted pubs.
It also invested in new systems and strengthened the senior management team with the appointment of a new finance director, marketing director and chairman.
Ed Martin, ETM co-founder said: "This has been a significant and transformational year for ETM. We have strengthened our management team, invested in the right processes and infrastructure and will continue to offer a relevant and differentiated offer for our guests. We look forward to continued growth with three new openings and further refurbishments in the current year."
Since the period end, ETM opened its first brewpub concept Long Arm Pub & Brewery on Shoreditch's Worship Street, two major refurbishments were undertaken at the White Swan and the Botanist Sloane Square and the Broadleaf bar and restaurant is scheduled to open this month.
Two further openings are planned for 2018.
ETM to launch new Broadleaf bar in the City >>
The Botanist Sloane Square to relaunch with new look and new chef >>
ETM Group reports 23% growth in sales >>
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