Raymond Blanc’s restaurant chain in rude health after refinancing

Raymond Blanc

Financial results released by Brasserie Bar Co this morning suggest the chain is weathering the Brexit storm, with both sales and profits increasing on the previous period.

Turnover at the 36-strong group, which runs Brasserie Blanc and the White Brasserie Company, rose almost 14% to £46.8m for the 12 months to July 2017, an improvement of £5.7m on the previous year.

Meanwhile, EBITDA from continuing sites climbed 24% to £7.3m, representing an increase of £1.4m on the prior year.

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During the year, the group opened six sites, four pubs and two Brasserie Blanc restaurants including its first within a hotel at the Marriott Highcliffe in Bournemouth.

Last May the group completed a refinancing with OakNorth Bank providing competitive senior debt and a CAPEX facility to continue steady expansion.

Mark Derry, CEO of Brasserie Bar Co, said: “In a difficult year for the licensed retail sector, we are delighted to report another period of considerable achievement. We served some 1.6 million guests, collected 40,000 pieces of feedback with an average score of 9 out of 10 and saw eight sites breaking sales records.”

Mr Derry said that the financing from OakNorth Bank will enable it to open 24 new sites over the next five years.

“We look forward to growing our estate and our team despite industry challenges,” he commented.

Tags : Brasserie Bar CoBrasserie BlancRaymond BlancRestaurants
Andrew Seymour

The author Andrew Seymour

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