Full year audited results for the financial year ended 31 December 2017
- Group revenue increased 38% to £29.6m (2016 – £21.5m)
- Gross profit increased 36% to £21.3m (2016 – £15.7m)
- Adjusted EBITDA* £1.1m (2016 – £2.7m)
- Cash generated from operations of £1.5m (2016 – £0.1m), with total cash at year end of £5.4m
- IFRS profit before tax of £0.46m (2016 – £1.0m loss)
- Earnings per share from IFRS profit of 0.39p (2016 – 1.70p loss per share)
- 4 new restaurants opened in the year (2016 – 6 opened and 3 acquired)
- 29 restaurants trading as at 31 December 2017 (2016 – 24)
Chaker Hanna, Chief Executive Officer, commented: “Trading year to date has been in line with Board expectations, and we anticipate strong sales in the second quarter.
Sales at the new restaurants are gradually building towards the levels anticipated at maturity and the Company is putting in place several marketing initiatives, including a new menu, ahead of the critical summer trading period to promote sales at both existing and new restaurants. The Company is also heavily focused on building the Comptoir brand, broadening its executive team, improving quality and driving innovation.
The Group has secured two further international Comptoir locations, being one in Dubai Airport planned to open in the first half 2019 and a second Comptoir in Abu Dhabi Airport planned to be opened in the second half of 2019. Both are with our current franchise partner HMS Host. The Directors believe the Comptoir brand has significant international franchise potential.”