ETM planning 'significant' expansion as turnover rises

By Sophie Witts contact

- Last updated on GMT

ETM planning 'significant' expansion as turnover rises

Related tags: Restaurant, Public house

London restaurant and bar group ETM says it plans to ‘expand significantly’ over the next five years following strong sales growth.

Group turnover rose 37.4% to £27m in the 12 months to 29 February 2018, which ETM says was driven by positive like-for-like growth, and an increase in events and pre-booked sales.

Group EBITDA hit £2.7m, up 202.6% from 2017.

Earlier this year the 14-strong group received a £10m funding package​ from HSBC to finance its growth plans.

ETM launched the Maple restaurant at Westfield London this summer and will open the Redwood pub at London Bridge in 2019.

Ed Martin, CEO of ETM, says the results show there is ‘consumer demand for experience-led venues’ offering ‘quality food, drink and sport’.

“We will continue to invest in our current portfolio and our infrastructure to ensure our offer remains relevant and differentiated,” he says.

ETM’s portfolio also includes The Botanist Sloane Square and rooftop City bar Aviary.

Related topics: Business

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