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Mon 5th Oct 2015 - Gordon Ramsay Group reports Ebitda growth of 39.2%
Gordon Ramsay Group reports Ebitda growth of 39.2%: Gordon Ramsay Group has reported total sales increased 12.6% to £50.3m in the year to 31 August 2015. Sales in UK restaurants increased by 12.0% to £46.8m with like-for-like restaurant sales increasing by 4.2%. International income increased by 24.4% to £2.8m. Ebitda for the group increased by 39.2% to £5.7m. The company has also negotiated a £13m five-year banking facility has been completed with Barclays that will provide it with a strong financial platform to continue to drive the business forward and aid further expansion. Managing director Stuart Gillies said: “We are very pleased with the growth in sales and Ebitda over the past year. We are particularly encouraged by the performance of Heddon Street Kitchen, which opened in November 2015 together with our two new Maze Grills that opened in the spring. These brands provide strong growth opportunities in both the UK and internationally. Bread Street Kitchen in Hong Kong and Singapore have both opened successfully and are trading above expectations, the next opening will be in Dubai in October 2015. Barclays’ commitment to us through the new banking facilities which have been put in place, will further strengthen the group going forward.”

Amber Taverns and Bravo Inns buy Charnwood sites:
Amber Taverns and Bravo Inns have bought two of the Charnwood Pub Company sites placed on the market in the summer. Amber Taverns bought BBQ and Brews in Hereford for conversion to a Last Orders Unit. The Queens at Bredbury has been sold to Bravo Inns. In addition, sales are agreed on three other sites, namely The Chequers, Leominster, The Coach and Horses, Wellingborough and The Fortescue at Billingborough. To assist the disposal process, the asking prices for the remaining three properties have been reduced. The Lion at Buckden, Cambridgeshire, a 14-bedroom town centre coaching inn, is now offered to the market off a revised freehold asking price of £899,000. The Red Lion at Stretham near Ely, which is a village public house with restaurant with 11 letting bedrooms rooms is offered at £699,000. The asking price for Ye Three Fishes, which lies on the A428 midway between Northampton and Bedford in the village of Turvey, is £495,000. A spokesman said: “These properties are offered separately to the market but expressions of interest for the three properties together would be considered.” Contact Matthew Phillips for more information at matt@matthewphillipssurveyors.co.uk
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