Urban Pubs & Bars tops £6m EBITDA
Urban Pubs & Bars saw an improvement of 11% versus its previous period.
A premium pub and dining group has announced an EBITDA of £6.4m for its latest financial year.
For the year ended 30 April 2023, Urban Pubs & Bars saw an improvement of 11% versus the previous period.
The leisure group, which operates 42 pubs, bars and restaurants across London, revealed like-for-like sales were up 17% and turnover increased by almost 60% to £52.2m.
A transformative time
The previous financial year had been a transformational period for the group, with significant new investment including the acquisition of 16 sites. The group has more than doubled in size in the last 24 months.
Urban Pubs & Bars also reported an impressive Christmas trading period, with a like-for-like sales growth of 19% in December 2023.
Since the start of the current financial year, the business has opened three new sites, including Victory at Waterloo Station, Railway in Putney and The Junction in Islington.
"We are delighted with the performance of the business," says Urban Pubs & Bars managing director Chris Hill. "Our pubs, bars and restaurants, and the people who run them are some of the best in London.
"While the economic conditions are unfavourable at present, presenting numerous challenges to the hospitality industry, Urban Pubs & Bars is trading strongly, and remains highly profitable and well-funded. We are confident that further opportunities to expand the business will arise and look forward to more openings and further growth this year."
Urban Pubs & Bars was founded by Malc Heap and Nick Pring, and is backed by Davidson Kempner and Global Mutual.