Urban Pubs & Bars nears £9m profit

Urban Pubs & Bars has announced record-breaking profits.

Following a year of acquisitions and investments, London pub company Urban Pubs & Bars has announced record-breaking profits. 

Led by managing director Chris Hill, Urban has delivered an EBITDA of £8.7m for the financial year ending 28 April 2024, a 26% increase on the previous year.

The group, which now operates 53 pubs, bars and restaurants, reported a 16% rise in turnover to £60.5m and a 4% increase in like-for-like sales in the period.

"This has been a landmark year for Urban Pubs & Bars," says Hill. "Our growth is a testament to the hard work and dedication of our team, who continue to deliver exceptional experiences for our customers. From iconic pubs to innovative dining and entertainment concepts, our venues represent the best of what London has to offer."

Acquisitions and investments

Since the end of the financial year, Urban has continued to grow with the acquisition of 10 new sites, including The Gun in Spitalfields, East Dulwich Tavern and Balham Bowls Club. 

Additionally, several pubs, including The Wren Tavern in St Paul’s, The Hagen & Hyde in Balham and The Clapton Hart in Clapton, have recently undergone extensive refurbishments that the business says have significantly exceeded trading expectations.

Urban has already announced three openings for 2025 in The George & Dragon in Wanstead, The London Fields in Hackney, and a new site in Covent Garden.

There will be further expansion in 2025 and 2026, with a pipeline of potential acquisitions and developments lined up. These will be supported by a recently revised funding arrangement, increasing its available facilities to £30m. 

"While we remain mindful of economic challenges, our strong trading performance and solid financial foundation give us confidence in our ability to achieve even greater success," adds Hill. "With new openings already planned and further opportunities on the horizon, we are excited about what 2025 and beyond will bring."

Founded by Malc Heap and Nick Pring, Urban Pubs & Bars is backed by Davidson Kempner and Global Mutual.


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