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Giraffe increases turnover by £4.9m in 2011

By Becky Paskin , 26-Jul-2011

Fast-casual restaurant group Giraffe has announced an annual increase in turnover of £4.9m to £34.4m for the year to 27 March 2011.

The group, backed by Risk Capital Partners, generated an increase in EBITDA before exceptional items to £3.3m for the period.

During the year Giraffe opened seven new sites in Aberdeen, Bath, Solihull, Black Heath, Horsham, Gatwick and Soho, the latter of which was launched as the group’s first Giraffe Bar and Grill concept.

Luke Johnson, chairman of Giraffe, said the group had banking facilities in place to aid further expansion and acquisition in the coming years.

“This is another impressive performance from the Giraffe management team, following the successful execution of the Tootsies acquisition last year. There are still many areas of the country that Giraffe plans to serve over the coming years. We believe the brand has extremely strong appeal thanks to engaging service and a good value menu.”

BigHospitality reported last week that the group, led by managing director Russel Joffe and wife Juliette, intends to roll out two new concepts under the Giraffe umbrella – an adult-focused café that will launch in Hampstead and Wimbledon, and a grab and go concept for mainline train stations called Giraffe Stop that will launch at King’s Cross.

The group will also rebrand its Guerilla Burgers concept in London’s West End as Giraffe Burgers for roll out.

Three regular Giraffes are also being planned for launch this autumn in Stratford, Chelmsford and Sheffield Meadowhall.

Russel Joffe said: “These results show a resilient performance in a challenging year for the casual dining market. We have expanded successfully in new areas of the UK and with 44 sites and three new sites to be opened in the autumn we are fast approaching 50 UK sites.

“We are continuing to attract the very best industry talent to support and underpin our expansion.”

In a recent interview Juliette Joffe revealed Giraffe planned to open 60 venues across the portfolio by the end of 2012.

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