ETM, the 12-strong bar and restaurant group, announces another year of strong growth and progress for the year ending 29 February 2016.
Group turnover increased to £22.2m, up 17% (2015: £19.6m), and Group EBITDA stood at £2.3m, up 35% (2015: £1.7m)
Trading exceeded expectations for The Botanist at Broadgate Circle, which is now serving over 250k people a month.
Regarding to recent trading, two new sites opened at The Montcalm Hotel, Finsbury Square - Burdock on the ground floor of the hotel in November, and London’s newest rooftop bar/restaurant, Aviary opens this week.
January 2017 will see the opening of Greenwood – an 11,000 sq ft site located in the new Nova development in Victoria. There are also further new site acquisitions and a number of refurbishments planned for the new year.
The company's management team has been strengthened, including the appointment of a new CFO, to support ETM’s expansion program, develop the brand and facilitate continued improvements in controls and processes.
Ed Martin, ETM founder, (pictured right, with brother Tom) commented, “We are extremely pleased with the group’s performance - despite tough trading conditions we have delivered positive like for like growth.
'We are delighted to have strengthened our management team and will continue to improve our operation, especially in light of the strong headwinds facing the industry including business rates increases, living wage and food cost pressure”.