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Mon 26th Sep 2016 - D&D London reports record results
D&D London reports record results: Restaurant operator D&D London has reported record results with turnover up 3% to £107.8m in the year to 31 March 2016. Ebitda was up 16% to £13.0m (2015 – £11.2m). The company relaunched Le Pont de la Tour (September 2015), Sartoria (December 2015), Alcazar (December 2015) and 100 Wardour Street (January 2016) and opened German Gymnasium, Kings Cross (November 2015). Overall UK like-for-like sales were up 3%. Revenues from the opening of German Gymnasium were offset by revenue reductions as a result of closures for refurbishment. There was strong like-for-like revenue performances from Paternoster Chophouse (+28%), Quaglino’s (+22%) and Madison (+18%). Des Gunewardena, chairman and chief executive of D&D London, said: “It’s great to report such excellent results on the tenth anniversary of D&D. A lot has happened in ten years. We have opened a number of new restaurants in London, and revamped many of our longest established venues such as Le Pont de la Tour, Quaglino’s and Alcazar in Paris. We have also expanded outside London both in the UK and overseas, and we have moved into hotels. In turnover terms we are today about two-and-a-half times the size we were when we bought the business from Conran in 2006. The second half of our past financial year was certainly not a bed of roses. But our restaurants’ revenues held up well and we managed to post another year of solid sales growth and record profits. And in the current financial year, despite a disappointing early summer and uncertain period around the date of the EU referendum, our revenues have continued to increase. Much of this growth is coming from new ventures such as the German Gymnasium and from our recently refurbished restaurants. This month has seen Bluebird given a new look and in early 2017 we will open restaurants, cafes and bars at Land Securities’ Nova development in Victoria. Later in 2017 we will open new restaurants in Leeds and Manchester. Despite the uncertainties surrounding the UK’s relationship with the EU, we remain confident in and will continue to invest in new ventures in the UK as well as in projects overseas.” The company is celebrating its ten-year anniversary on Wednesday, 5 October with ten 10 D&D restaurants offering a three-course lunch or dinner for £10. For one day only, a £10 menu will be available at flagship D&D restaurants Le Pont de la Tour, Quaglino’s, Bluebird, Orrery, Skylon, Sartoria, German Gymnasium, Plateau, Coq d’Argent and Butlers Wharf Chop House. Gunewardena added: “People have said that the last decade has been a golden age for London restaurants and I think they are right. D&D London has restaurants in Paris, New York and Tokyo, but for me there is no doubt that London leads the pack – not only at the top end of the market, but also in casual dining, street food, gastro-pubs and so on. To my mind it’s like the Premier League in football. Restaurateurs and chefs from the US, Europe, Far East, as well as Londoners, all want to be part of it and so are driving quality and innovation. We’ve had a great first ten years as D&D and look forward to firmly remaining part of the most exciting restaurant scene in the world in the next ten.”

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