‘Transformational’ year for ETM with profit up 11.6%

24/11/2017 - 10:17
Bar and restaurant group ETM has published its financial results, announcing a “transformational” year with sales up 11.6% to £18.2 million.

For the year ending 29 February 2017, the 12 strong group reported a total turnover of £20 million, with turnover for continuing operations at £18.2 million – up 11.6% from £16.3 million in 2013 – following the sale of The Gun (Poplar), this June.

With “new site opening costs and an increased infrastructure to support significant growth plans,” the group’s EDITDA stood at £1.1 million – down from £1.6 million in 201 – while its overall venue size increased by 26,000 square foot, having opened the Burdock and Aviary (both at The Montcalm Royal London House Hotel, Finsbury Square,) and Greenwood in Victoria’s Nova development.

Other developments over the past year include “the strengthening of its senior management team” - appointing a new finance director, marketing director and chairman – as well as “investment in new systems and processes, and the initial implementation of an aligned and refocused three platform brand strategy.”

ETM co-founder, Ed Martin, said: “This has been a significant and transformational year for ETM. We have strengthened our management team, invested in the right processes and infrastructure, and will continue to offer a relevant and differentiated offer for our guests.

“We look forward to continued growth with three new openings and further refurbishments in the current year.”

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