ETM, the 12-strong bar and restaurant group, announces another year of strong growth and progress for the year ending 29 February 2016.
Financial Highlights
- Group turnover increased to £22.2m, up 17% (2015: £19.6m)
- Group EBITDA £2.3m, up 35% (2015: £1.7m)
- Continued improvements in site efficiencies
- Trading exceeding expectations for The Botanist at Broadgate Circle, now serving over 250k people a month
Recent Trading
- Two new sites recently opened at The Montcalm Hotel, Finsbury Square – Burdock on the ground floor of the hotel in November and London’s newest rooftop bar/restaurant Aviary opens this week
- January 2017 will see the opening of Greenwood – an 11,000 sq ft site located in the new Nova development in Victoria
- Further new site acquisitions and a number of refurbishments planned for 2017
- The management team has been strengthened, including the appointment of a new CFO, to support ETM’s expansion program, develop the brand and facilitate continued improvements in controls and processes
Ed Martin, ETM founder comments:
“We are extremely pleased with the group’s performance – despite tough trading conditions we have delivered positive like for like growth. We are delighted to have strengthened our management team and will continue to improve our operation, especially in light of the strong headwinds facing the industry including business rates increases, living wage and food cost pressure”.
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