Comptoir Group reports revenue rise of 36.1% to £13.1m

Restaurant operator, Comptoir Group's revenues rose by 36.1% to £13.1m in the six months to the end of June and gross profit increased by 36.4% to £9.5m.

Chief executive Chaker Hanna said, 'The performance of the group's various brands and restaurants, during the first six months of the year, has been steady despite some challenging conditions.

'The group ended the period owning and operating 23 restaurants, with a further 2 franchise restaurants. 'The company has opened 1 further restaurant post period end. Revenue for the period was £13.1m, an increase of £3.5m or 36.1% (2016: £9.6m) over the comparative period. 'Adjusted EBITDA was £0.2m, a decrease of £813k or 81% (2016: £1.0m).

'Following various adjustments including highlighted items, the income statement shows a pre-tax loss of £756k. The group has successfully opened two new sites during 2017 to date, namely Comptoir Gloucester Road in January 2017 and Comptoir Reading in July 2017.'

The company currently owns and trades from 24 restaurants (17 Comptoir Libanais, 3 Yalla Yalla, 2 Shawa, 1 Levant and 1 Kenza). 'The company's two current franchise restaurants are located in Heathrow and Gatwick.

Chairman Richard Kleiner said, 'Notwithstanding the challenging environment that has subsisted since early 2017, I am pleased to see that, over the last few months, the business revenue has stabilised. 'The company is therefore in a good position to take advantage of the opportunities that the board believe will arise over the foreseeable future.'