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Mon 30th May 2022 - Comptoir Group reports return to profit |
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Comptoir Group reports return to profit: Comptoir Group has reported revenue of £20.7m, up by 66.9% (2020 restated: £12.4m), in the year to 31 December 2021. Adjusted Ebitda before highlighted items was £6.4m, up by 357.1% (2020: £1.4m). Profit after tax was £1.6m (2020: £8.1m loss). All sites were closed from 5 January 2021 for indoor dining, re-opened in April 2021 for outdoor dining and dine-in from May 2021. It currently owns and operates 21 restaurants, with a further four franchise restaurants. Richard Kleiner, non-executive chairman, said: “The last two years of the covid-19 pandemic have bought considerable challenges that we have had to deal with, and adapt to, as the circumstances demanded. The board can only express our continued thanks to our customers, suppliers, landlords and especially our team who have navigated these challenges at every turn. Once again, all our team members have worked tirelessly with incredible dedication and passion to ensure we remain focused and ready to serve our customers. As these results demonstrate we have emerged from this period in an extremely strong position both financially and operationally and can look forward to an exciting period of growth. The Comptoir brand remains one known for its unique offering comprising healthy food of an excellent quality, served in bold, vibrant and safe environments, whilst retaining the genuine feel of family and friendly hospitality, that reflects the very heart and soul of our offering. Since reopening fully in the summer, once eat-in trade was permitted again, the results were highly encouraging and although impacted by the December restrictions, as the Omicron variant took hold, trading remained robust. We are looking forward to continued trading conditions with no government restrictions as customers continue to come back to the hospitality offering, we are so well known for. Of course, 2022 holds its own challenges with the end of government support in respect of cessation of the reduced VAT rate and the normalisation of business rates charges, as well as the continued pressure on the labour and procurement markets. However, the management team have seen many periods of uncertainty before and there is no doubt we will once again navigate these challenges and continue to guide the group towards our exciting growth strategy. Therefore, we look forward to the future with much optimism.” Chief executive Chaker Hanna added: “As restrictions have been lifted, we have seen trading increase to such a level that we remain optimistic about the sales performance compared to 2019, although this will be tempered somewhat by rising costs. Although the end of the rates relief, cessation of the reduced VAT rate and the introduction of 1.25% additional national insurance will impact the level of profitability our future remains very positive. As a business, despite the difficult challenges that came hand in hand with the pandemic, through hard work and resilience we have emerged in a stronger position. Having reviewed our operational controls and with the foundations that were put in place over lockdown we are confident about our expansion strategy. The board believes that the potential for organic growth in both the Shawa and Comptoir Libanais brands remains through a considered selection process and effective management of successful sites, as well as through our Franchise partners. The investment in systems made during 2021, which includes Fourth Hospitality, Access Maintain, Flow, Loke for the Comptoir app, as well as an overhaul of the finance systems, has allowed the company to leverage efficiencies and ensure we have a market leading system platform allowing us to look ahead with confidence.”
Host of pizza brands to feature in next edition of The New Openings Database, 11,989-word report included: A host of pizza brands will feature in the next edition of The New Openings Database, which is produced in association with StarStock. The database will show the details of 257 newly announced site openings and upcoming launches for Premium subscribers when it is published on Friday (3 June), at midday. The database shows the details of which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location. There will also be a website link to the businesses so you can find out more about them. It is published on a monthly basis. The next edition features Augusto Pizzeria, the brainchild of Chester-based operators Valentina Aviotti and Fabrizio Gobbato, which has opened a site in Northgate Street, Chester. Meanwhile, Dough&Co, the wood-fired pizza concept from former Marco Pierre White chef Chris Sharman, is set to open a new restaurant in The Hive, at The Potteries Centre in Hanley, next month. In addition, Bristol-based concept Bosco Pizzeria, which opened a new site in Cheltenham this month, is also launching a smaller, more delivery-focused pizza concept called Pizzucci, which is opening in Gloucester Road, Bristol. Premium subscribers will also receive a 11,989-word report on the new additions to the database. Premium subscribers also receive access to three other databases. The latest Propel Multi-Site Database, which is produced in association with Virgate, was sent to Premium subscribers last Friday (27 May). The database contained 42 new companies, bringing the total number of businesses listed up to 2,481. The 140 sites run by those 42 new additions means the entire database of sites has reached 65,402 sites. Premium subscribers also received a 3,212-word report on the new businesses added. The go-to database provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. There is also a synopsis of what the business does and significant news associated with it. Premium subscribers also receive the Turnover & Profits Blue Book, which is produced in association with Mapal Group. The Blue Book, which is also updated every month, provides an insight into UK operator turnover and profitability over five years, profit conversion and directors’ earnings. Premium subscribers also have exclusive access to the UK Food and Beverage Franchisor Database, which is an exhaustive guide to the companies offering a food and beverage franchise in the UK and will be updated every two months. The second edition features 120 companies and almost 47,000 words of content, providing insight on the offer, locations, cost, business background, contacts and other key details. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Subscribers also receive access to Propel’s library of lockdown videos and Friday Wrap interviews and now also have access to a curated video library of the sector’s finest leaders and entrepreneurs, offering their insights on running outstanding businesses in the sector. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before our 6am send-out; regular video content and regular exclusive columns from Propel group editor Mark Wingett.
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