Comptoir Group PLC – COM – Interim Results

Comptoir Group PLC – COM – Interim Results

Highlights:

 

·     Group revenue of £5.7m down by 6.9% (H1 2020: £6.1m)

·     Gross profit of £4.3m down by 4.8% (H1 2020: £4.5m).

·     Adjusted EBITDA* before highlighted items of £1.6m up by 262.8% (H1 2020: £0.45m).

·     IFRS loss after tax of £1.2.m (H1 2020: £4.97m loss).

·     Net cash and cash equivalents** at the period end of £9.2m (H1 2020: £5.0m; 31 December 2020: £7.8m).

·     The basic loss per share for the period was 0.98 pence (H1 2020: basic loss per share 4.05 pence).

·     Currently own and operate 21 restaurants, with a further 4 franchise restaurants.

Note that these results are impacted by COVID-19 related closures affecting all restaurants in the Group. In 2020 periods were affected from 19 March onwards. In 2021 the periods affected were between 1 January and 19 July

*Adjusted EBITDA was calculated from the profit/(loss) before taxation adding back interest, depreciation, share-based payments, and non-recurring costs (note 12).

Richard Kleiner, Non-Executive Chairman, said: "We have made strong progress over the past six months. Whilst we have been focusing on the re-opening of the sites and welcoming back dine-in customers as the Government restrictions were lifted; we have also been transforming the business through investment in systems and technology.

The unique family ethos that pervades throughout the Comptoir team has made me extremely proud, as everyone pulled together in adversity to support not just their team but every member of the Group to ensure we delivered that unique Comptoir hospitality.

The sector is still under extreme pressure from well-documented challenges such as the availability of labour as well as the pressure on the supply chain, but we recognise we are fortunate to be in a better position relative to many of our peers. 

As ever, we monitor and respond to these challenges as and when they occur. However, with strong sales since the phased reopening began in April, a relatively strong balance sheet and the potential for new openings, we are optimistic for the future and the long-term prospects for the business looks extremely positive."

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