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Morning Briefing for pub, restaurant and food wervice operators

Thu 1st Dec 2016 - ETM Group reports turnover and Ebitda boost
ETM Group reports turnover and Ebitda boost: ETM Group, the gastro-pub operator led by brothers Ed and Tom Martin, has reported turnover increased 17% to £22.2m for the year ending 29 February 2016, compared with £19.6m the year before. Group Ebitda was up 35% to £2.3m (2015: £1.7m) and the company continued making improvements in site efficiencies. Trading exceeded expectations for The Botanist at Broadgate Circle, which is now serving more than 250,000 people a month. Two new sites recently opened at The Montcalm Hotel, Finsbury Square – Burdock on the ground floor of the hotel in November and London’s newest rooftop bar/restaurant Aviary today (Thursday, 1 December). In January, ETM Group will launch Greenwood – an 11,000 square foot site located in the new Nova development in Victoria. Further new site acquisitions and a number of refurbishments are planned for 2017. The management team has been strengthened, including the appointment of a new chief financial officer, to support the company’s expansion programme, develop the brand and facilitate continued improvements in controls and processes. Ed Martin said: “We are extremely pleased with the group’s performance – despite tough trading conditions we have delivered positive like-for-like growth. We are delighted to have strengthened our management team and will continue to improve our operation, especially in light of the strong headwinds facing the industry including business rates increases, living wage and food cost pressure.”

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