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Morning Briefing for pub, restaurant and food wervice operators

Tue 29th Jan 2019 - Hickory’s reports turnover and Ebitda boost
Hickory’s reports turnover and Ebitda boost: Hickory’s Smokehouse has reported turnover increased 28% to £21.4m for the year ending 30 April 2018, compared with £16.6m the previous year. Group Ebitda before exceptional costs was up 8% to £1.6m, compared with £1.5m the year before, despite continued investment in central support functions. The company, which operates nine sites, has two openings planned in 2019. Hickory’s was founded in Chester by Neil McDonnell in 2010 following extensive research into the American barbecue and smokehouse sector. Hickory’s said its restaurants were known for their “focus on food quality, authenticity and exceptional Southern hospitality”. The nine Hickory’s restaurants are in Chester, West Kirby, Burton Green, Wall Heath, Rhos-on-Sea, Castle Bromwich along with Southport, Worcester and Gresty Green, which were added to the estate in 2018. As with the rest of the Hickory’s estate, the sites were previously pubs that had fallen into disrepair until Hickory’s transformed and “returned them to the heart of their local communities”. Last year, the company lodged plans for its first new-build site, in Telford. Backed by consumer brands specialist investor Piper, the group continues to open new restaurants across the north west and Midlands and is looking to expand further afield. Managing director John Welsh said: “We are delighted by our results and have exciting plans for the year ahead, with two more openings planned and further opportunities in the pipeline with our new-build template for 2020. We will also soon be launching the Hickory’s Academy to develop, inspire and reward our talented team and ensure they continue to provide our guests with the very best experience in town.”

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