Number of pub operators set to join updated Premium Database of Multi-Site Companies: A number of pub operators are among the 60 new multi-site companies being added to the next edition of the Propel Premium Database of Multi-Site Companies, which will be released on Friday (30 September), at midday. The updated Propel Multi-Site Database, which is produced in association with Virgate, features Black Diamond Pub Company, a high-end and food-led pub business operating village pubs, founded by Matt Henman, which operates three pubs in partnership with Greene King. Also added this month are Nottingham operators Tom Holodynsky and Owen Roach, who run sports bar Southbank City in Friars Lane, and have now opened a second sports-themed venue in the city. In addition, Deben Inns, co-owned by Steve and Louise Lomas, which operates seven pubs in Suffolk, will be featured. Premium subscribers will also receive a 4,100-word report on the new additions to the database. The comprehensive database is updated monthly and 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. The database now features 2,677 companies. Premium subscribers will also receive the next edition of the New Openings Database on Friday, 7 October, at midday. It focuses on newly announced openings and upcoming launches in the sector and is updated every month. The next edition also includes a 12,000-word report on the new additions to the database. Premium subscribers also receive access to the Propel Turnover & Profits Blue Book, which is produced in association with Mapal Group, and the UK Food and Beverage Franchisor Database. 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.

Dishoom reports revenue ‘significantly’ exceeding pre-covid levels: Indian restaurant group Dishoom has reported revenue is “significantly” exceeding pre-pandemic levels as the business builds back from covid. It comes as the business reported turnover increased 98.6% to £57,654,000 for the year ending 26 December 2021, compared with £29,177,000 the previous year, as a result of the reopening of the company’s restaurants following covid-19 closures. This also exceeded the 2019 figure of £52,919,000 – the last year before the pandemic. Adjusted Ebitda grew to £3,825,000 from minus £842,000 the year before, “which reflects the return to trading for the restaurants for periods of the financial year” (2019: £6,461,000). It made a pre-tax profit of £1,505,000 against a loss of £3,766,000 the previous year (£2019: £4,707,000). The business received £3,701,000 from the Coronavirus Job Retention Scheme (2020: £6,041,000). The business said it was set for a refinancing that was expected to be completed last month. In their report accompanying the accounts, cousins and co-founders Shamil and Kavi Thakrar stated: “During 2022, trading has continued to grow and guest numbers have returned to pre-covid levels. The return to previous levels of demand in the existing restaurants and the addition of delivery and at home channels have significantly increased revenues versus the period prior to the pandemic. The company continues to evaluate potential new restaurant openings in the UK.” No dividend was paid (2020: £1.3m). Since launching in 2010, Dishoom has grown to eight cafes in London, Manchester, Birmingham and Edinburgh, and a dozen delivery kitchens. It is set to open a ninth restaurant later this year, in Canary Wharf, five years on from its last opening.

SSP reports strong fourth quarter with UK revenue circa 86% of 2019 levels, expects full-year sales and Ebitda to be slightly ahead of guidance: UK-based transport hub foodservice specialist SSP Group has reported a strong fourth quarter to 30 September 2022 with revenue expected to be circa 91% of 2019 levels, The company stated: “This has been driven by a continued recovery of passenger numbers, notwithstanding some disruption to the travel sector over the summer. The revenue performance includes the benefit from net contract gains and price increases compared with the same period in 2019. The recovery is being led by domestic and leisure travel across both the air and rail sectors, with business and commuter travel also recovering, albeit more slowly. In the fourth quarter we have seen a recovery in trading across all our regions. In continental Europe, revenue is expected to be circa 95% of 2019 levels. In North America, revenue is expected to be circa 95% of 2019 levels. In the UK, trading in both air and rail has continued to strengthen, despite the impact of the industrial action in the rail network over the summer, with revenues expected to be circa 86% of 2019 levels. In the rest of the world, we have seen a resurgence in revenues to circa 86%, of 2019 levels with strong performances in India, Australia, Thailand and Egypt. However, passenger numbers remain very low in China and Hong Kong. As a result of the recent trends, our confidence in the underlying recovery and the resilience of our business model, we are now planning to accelerate the mobilisation of our pipeline from 2023 onwards. As previously reported, by 2025 our pipeline of new outlets is expected to add approximately £500m to revenues compared with 2019. For the current full year, we now expect to deliver sales of approximately £2,170m and Ebitda of approximately £140m (on a pre-IFRS 16 basis), slightly ahead of our previous full year guidance. The strength of our second-half Ebitda performance reflects the benefit of operating leverage, as sales recover, as well as our ongoing management of inflationary cost pressures through productivity and pricing initiatives. In the second half of the year, the group is expected to generate net free cash flow of approximately £70m, driven primarily by our strong Ebitda performance and a further working capital inflow as sales recover. Payment deferrals relating largely to rental negotiations during the pandemic are now expected to unwind in our next financial year. We anticipate capital expenditure to be broadly in line with our previous guidance of circa £150m, increasing to circa £200m-£250m in 2023, reflecting the accelerated mobilisation of the new business pipeline. As a result of our strong cash flow performance, we expect net debt to be approximately £340m at the year-end. Travel demand has recovered strongly through the year. As we look ahead to the 2023 financial year, while there remains considerable uncertainty in the macroeconomic environment, we are confident that our flexible and resilient business model will enable us to continue to offset cost inflation, manage supply chain and labour volatility, and optimise profitability and returns. Our medium-term expectations for the recovery remain unchanged, which are for a return to broadly pre-covid-19 levels of like-for-like revenue and Ebitda (on a pre-IFRS 16 basis) by 2024.” Chief executive Patrick Coveney said: “Passenger numbers are rebounding across the global travel sector and – thanks to the commitment and hard work of our colleagues and support from our clients and brand partners – our trading has now recovered to near 2019 levels. With a strong client and customer proposition, we are winning new business across the world and continue to have a high success rate in renewing contracts. As we look forward in this challenging macroeconomic environment, we remain confident in the ongoing resilience of the group’s business model and continue to see significant potential for both near and long-term growth.”