Comptoir Group plc, full year audited results for the financial year ended 31 December 2018
- Group revenue increased 16.1% to £34.3m (2017 – £29.6m).
- Gross profit increased 16.0% to £24.7m (2017 – £21.3m).
- IFRS loss before tax of £0.21m (2017 – £0.46m profit).
- Adjusted EBITDA* of £2.1m (2017 – £1.1m).
- Net cash and cash equivalents at the period end of £4.6m (2017: £5.4m).
- Loss per share of 0.26p (2017 – 0.39p positive earnings per share).
- Three new restaurants, two ‘owned’ and one franchised opened in the year (2017 – four ‘owned’ restaurant openings). One ‘pop up’ site closed at the end of a short-term lease.
- 31 restaurants (27 owned and 4 franchise) trading as at 31 December 2018 (2017 – 29 restaurants; 26 owned and 3 franchise).
Chaker Hanna, Chief Executive Officer, commented:
“Trading for the year to date has continued to be in line with Board expectations, and we anticipate this momentum will continue into the second quarter of 2019.
Like for like sales growth has continued each month as newer restaurants reach anticipated maturity levels and the Company is continuing to take a cautious approach to selecting new site openings, enabling focus on the existing estate and further development of the brand whilst ensuring the most efficient operating model is maintained.
The Directors believe the Group’s current Comptoir Libanais restaurant estate continues to have significant potential for organic growth and will continue to explore further franchise opportunities, alongside the already agreed terms reported at the half-year results to open three additional franchised sites with HMS Host in the second half of 2019; in Ashford (Kent) and our second and third international franchised operations in Dubai and Abu Dhabi Airports.”
*Adjusted EBITDA is calculated excluding the impact of a £0.03m share-based payment charge (2017 – £0.16m credit); depreciation, amortisation and impairment of assets of £1.8m (2017 – £1.5m); £nil profit on the sale of freehold property (2017 – £1.3m); and £0.4m restaurant pre and post opening costs (2017 – £0.5m).