Thai restaurant group bounces back from pandemic

Sukho Group, a multi-brand Thai restaurant group comprising Zaap Thai and Sukhothai, has reported a significant increase in sales from £5.5m in the year ending March 2021 to £13.5m in the year ending March 2022.

The Leeds-headquartered business says this comes after a difficult year of trading caused by the pandemic, with the group contending with an “exceptionally tough” period which was impacted by Covid-related restrictions.

Compared to the group’s last full year of normal trade, sales have increased by 31% from £10.4m in the year ending March 2020 to £13.5m in the year ending March 2022. And group EBITDA has also risen from £1.1m to £3.2m in the year.

During the year the group completed a rebrand of one of its Sukhothai sites based in Headingley, converting it into a Zaap restaurant.

Sukho says this rebrand had a positive effect with takings now being two and half times greater than when the site was a Sukhothai branded venue.

In April 2022 the group was able to repay in full the term loan taken out at the time of an MBO in April 2019, one year ahead of schedule.

In the current financial year the group has opened its sixth Zaap Thai site in Sheffield, on Ecclesall Rd, with trade exceeding initial expectations.

The group is in advanced discussions to open two new sites in quarter one/quarter two of 2023, in two major
Northern target cities.

Managing director Gerrard Marks said: “Following a very difficult period we’ve bounced back with our strongest ever sales year and a significant increase to our EBITDA.

“We’ve recently opened our ninth site, Zaap Sheffield, creating over 20 new jobs with trade currently exceeding expectations.

“We’ve also been focusing on improving our existing sites infrastructures and investing in strengthening our
teams.

“We’re extremely optimistic about our future with potentially two more sites lined up for early 2023.

“However we’re under no illusion the next few months will be difficult for our industry and we’re more focused than ever to keep offering fantastic food and service to our guests and creating a memorable experience every time.”