The owners of restaurant group ETM have revealed that the business finished the year with record levels of Christmas and New Year’s Eve trading and said the results validate the changes that they have made to the company over the past 12 months.
Overall sales increased 34% year-on-year for the five weeks to 31 December and rose 11% on a like-for-like basis. The top-line growth also boosted profits, the company said.
Ed Martin, founder of ETM (pictured above with co-owner Tom Martin), described the result as a clear demonstration of ETM’s transformational year and the positive impact recent change has had on the business.
“We are thrilled with our Christmas and NYE results which included a record week before Christmas where we exceeded £1m in sales,” he said. “34.4% sales growth with carefully managed costs has resulted in a very healthy increase in profit for the period. I would also like to thank our dedicated team for their efforts to deliver this result.”
The company has instigated its three-pillar brand strategy around Great British dining, vibrant bars and craft pubs which has set in motion a platform for scalable expansion evidenced by Aviary, (Finsbury Square) and Greenwood’s (Victoria) first year of successful trading and the encouraging start for Broadleaf, a new bar in the City.
Mr Martin added: “2018 will see continued site roll-out and the development of a new sales division helping to further drive the group’s performance. With an unmissable year of sport – Superbowl, Six Nations, World Cup, Commonwealth Games and Ryder Cup – Greenwood, Broadleaf and Long Arm are looking very promising for the year ahead.”