Sales up 35% at Boxpark

Boxpark has revealed a revenue growth of 35% when compared to the year prior to Covid-19 (April 2020). 

For the period to the end of April 2023, the dining, leisure and retail concept concept reported a revenue of £20.5m.

Much like the rest of the hospitality industry, Boxpark has had to manage significant cost increases, such as supplier prices and material cost inflation as part of the supply chain. As a result, the group’s EBITDA of £5m is 14% ahead of the £4.4m reported in the financial year ending April 2020 prior to Covid-19.

"We are pleased with our results in this period, delivering growth in like-for-like sales," says CEO Simon Champion. "We’ve successfully navigated a challenging trading environment with high-cost inflation, a stress on consumer spending and changing patterns of consumers going out.

"Our results are testament that our agile and resilient approach is working, but we still need to remain cautious in such a tough market. While we anticipate these macro challenges to continue for now, we are optimistic about the future prospects for the business, having announced the opening of Boxpark Liverpool, the first of its kind outside of London in 2024, and now Birmingham."

The business delivered circa. 600 events per year, which has bolstered sales. Venues have become associated with key moments in music, culture and sports.

The group has recently strengthened its senior management team and board by appointing Paul Thandi CBE, former CEO of The NEC Birmingham, as its new chairman.

With a pipeline of new sites, Boxpark has plans to open an average of two-to-three sites per annum over the next five years. 

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