Living Ventures serves up record results
NORTH West bar and pub operator has defied the gloom in the leisure sector to report strong annual figures, with ebitda before opening costs surging 59% to £3m.
Sales in the year to the end of March rose 29% to £38.9m, boosted by the opening of the group’s first pub, The Oast House in Manchester’s Spinningfields business district, and upmarket eatery Australasia, in the same location.
The Knutsford-based group, which now trades from 27 sites, expects sales in the current financial year to hit £45m after more venues, included the Alchemist on New York Street, Manchester and a second pub, the Botanist, opened in Alderley Edge in the summer.
Co-founder and managing director Tim Bacon said: “We continue to focus on service excellence, the quality of our food and our training programs.
“We are very proud that these continue to be recognised both within the industry and externally. In particular, the Sunday Times survey ranked us 28th in the “Best 100 Companies to work for”, highlighting our strong team ethic, great opportunities for development, strong sense of wellbeing and positive leadership.”
Both the group’s established brands Gusto, the high street Italian restaurant and Blackhouse, the steak and seafood grill continued to grow during the year, with total like-for-like sales 4% higher for the year. EBITDA also grew by 6%.
