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The Alchemist secures new locations for expansion with sales up 19% YOY

The Alchemist

Bar and restaurant chain, The Alchemist, saw sales rise 19% over the last financial year and is plotting its next moves for expansion as a result.

For the year ending March 2019, sales were up across its portfolio cementing another ‘successful 12 months of growth’, spurring the further development of its expansion strategy.

Turnover soared to over £41m (up from £34m on the previous year) while operating profit grew to £2,047,996 from £1,900,490 in 2018.

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Last year two new London venues opened – in the Theatre District and Old Street – alongside the first Alchemist in Wales, in Cardiff.

Sites in the portfolio now total 16, with new venues already secured for 2020 in Birmingham, Gunwharf Quays in Portsmouth and two in London at Canary Wharf and Embassy Gardens.

In the report on Companies House, signed by director V.Stewart, it said: “We have been approached by several landlords keen to partner with us as we build our pipeline of new venues for 2020 and onwards.

“With financing already in place for the next venue openings and beyond, the business is in a strong financial position.”

The group will also continue to roll out energy saving technology across its portfolio and a programme of investment into its customer journey.

Tags : bar and restaurantexpansionFinancialThe Alchemist
Zoe Monk

The author Zoe Monk

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