Giggling Squid reports restaurant turnover up to £76.4m: Giggling Squid, the Thai restaurant brand backed by the Business Growth Fund, has reported restaurant turnover increased 4.3% to £76.4m for the year ending 31 March 2024, up from £73.3m in the prior year. The 51-strong group said it enjoyed “another excellent year as customer demand for Thai food remained strong throughout the year and core estate revenue continued to be materially ahead of pre pandemic levels”. In addition, restaurant Ebitda margins continued to improve during the year due to supply chain upgrades and new supplier agreements. Giggling Squid said the strong cash generation of the business was partially used to fund four new restaurants in the year, with two in Cardiff (St David’s and Mermaid Quay), Bracknell and Shrewsbury. Post period end, additional sites opened in Muswell Hill (London) and Portsmouth (Gunwharf Quays) both of which it said have outperformed expectations. In addition, a new bank facility with Barclays was signed, providing an additional £6m of revolving credit facility funding, taking group facilities to £22.7m. Giggling Squid said Barclays Bank and investors, the Business Growth Fund, remain extremely supportive of the business. The group remains well financed and continues to be on the lookout for high-quality restaurant and retail units across the UK “to add to an already exciting pipeline of new openings”. Chief executive Andy Laurillard said: “The team has done a great job of steering the business through a tricky period which has seen challenges in almost every line of the P&L. What has emerged is a lean business with an efficient cost base. Like-for-like site Ebitda for FY24 was 12% up on FY23 and 30% up on FY20 before the pandemic. We have a full pipeline and are looking forward to continuing our measured, high-quality roll out.” Giggling Squid features in the Propel Turnover & Profits Blue Book, which features 978 companies. Giggling Squid’s turnover of £76.4m is the 133rd highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

Eight days to go until Propel’s Talent & Training Conference, focus on how companies can build a culture to attract, develop and retain talent: There are eight days to go until Propel’s Talent & Training Conference. The all-day conference takes place on Tuesday, 1 October at One Moorgate Place in London and is open for bookings. The conference will showcase examples of outstanding people culture among companies within the sector and how the industry is attracting talent. Among the operators attending are: KFC UK & Ireland, Fuller’s, Stonegate, Hawksmoor, The Big Table Group, Burger King, Loungers, The New World Trading Company, Nando’s, The Alchemist, Drake & Morgan, Wahaca, Caffe Nero, Revolution Bars Group, The Cornish Bakery, Jeremy King Restaurants, Frederic Robinson, Honest Burgers, Individual Restaurants, Sodexo, IHG Hotels & Resorts, Mollies, Korero, Bear Coffee, The Sababah Group, Turtle Bay, Flat Iron, ETM, Rosa’s Thai, WatchHouse, Mowgli, Caravan Restaurants, Incipio Group, Liberation Group, Breakspear, Simmons Bars, Buns from Home, Parkdean Resorts, Old Spike Roastery, Comptoir Group, Premier Inn, Popeyes UK, Inn Collection Group, Greene King, Oakman Group, Wagamama, Signature Group, Harts Group, Anglian Country Inns, Professionals at Play, Welcome Break, Big Fang Collective, MyLahore, Innventure, Laine Pub Company, Kerb, Toca Social, Gail’s, Roseacre Pub Company, F1 Arcade, Everards, Chilled Pubs, McManus Pub Co, Wildwood, Fazenda, Wetherby Whaler, McMullen & Sons, Iberica Restaurants, Immersive Gamebox, SFG Club, Fitzbillies, Almond Family Pubs, Windsor & Eton Brewery, Rhode Island Coffee, HB Leisure, Frontier Pubs, True North Brew and The Coastal Kitchen Family. For the full speaker schedule, click here. Tickets are £345 plus VAT for operators and £395 plus VAT for suppliers. Premium Club members get a 20% discount. Email: kai.kirkman@propelinfo.com to book places.

RedCat to invest £8m into estate: RedCat Pub Company, founded and chaired by Rooney Anand, is rolling out an £8m capital investment programme across its RedCat Pubs and Coaching Inn Group portfolio over the next six to 12 months. The group is set to invest in 18 RedCat pubs and six Coaching Inn Group sites across the UK. The programme will “deliver a focused approach”, centred around the team (training and upskilling), service (experience), environment (interior and exterior décor; lighting, sound and atmosphere) and offer (food, drink, rooms and entertainment). The business has already completed five projects as part of this programme: The Bull in Barton Mills in Suffolk, The Wig & Mitre in Lincoln, as well as The Crown Inn, The Curzon Arms and The Langton Arms in the Leicestershire area. Richard Lewis, RedCat Pub Company group chief executive, said: “Our pubs and inns are at the heart of the communities they serve. This substantial investment will help us further develop our business, support our dedicated teams, and ensure we deliver the best possible hospitality experience. By focusing on four key pillars – team, service, environment and offer – we can create consistently outstanding customer experiences and drive the growth of the business.”