D&D London has announced today its financial results for the year ended 31 March 2019 showing turnover rose by 13% to £145.6m (2018 £128.3m). Like-for-like sales increased by 4%, and EBITDA jumped by 12% to £12.8m (2018 £11.5m).
Drinks revenue rose, on a like-for-like basis by 3.5 % to £50.6m, with sparkling wine sales continue to grow (up 8%) with customers opting increasingly for emerging wine producers including English sparkling wines.
Non-alcoholic spirits, cocktails (+19%), beers (+17%) have also grown as has demand for vegan wines (+85%). However absolute level of sales remains modest.
Like-for-like food revenues have increased 4.9% with customers becoming more health conscious and ordering a higher proportion of vegan and vegetarian dishes. (up like for like 10%) D&D’s restaurants menus now aim to feature c. 20% vegan and vegetarian dishes.
London restaurants, Coq d’Argent in the City (dish pictured), and German Gymnasium in King’s Cross, enjoyed an increase in like-for-like sales of 11% and 10% respectively. The third highest grossing venue of the group for the period was D&D London’s Manchester site, 20 Stories, which opened in March 2018.
Paul O’Shaughnessy, Group Purchasing Director at D&D London, commented, “In 2018 food and drink sales remained robust despite market conditions. Food innovation was a fundamental sales driver with customers looking to experience emerging trends across all D&D restaurants.
'Strong sales growth in vegan fine dining, heritage vegetables and sustainably sourced ingredients suggests these trends are moving centre stage for our health-conscious customers.”
Diana Rollan, Group Head of Beverage at D&D London, said, “LFL Beverage sales continued to grow with the key categories of sparkling wine and spirits out performing the market.
'Again, innovation and trends positively impacted sales with low alcohol and now alcohol showing strong growth and alternative premium spirits also increasing share, driven by Tequila, Sake and Japanese Whiskey.”
In November, the group will open 14 Hills, a rooftop restaurant at 120 Fenchurch Street in the City. The next new opening will be a restaurant and events venue in the Quakers Friars building at Cabot Circus in Bristol next Easter.