Cote eyes expansion as profits rise

By Sophie Witts contact

- Last updated on GMT

Cote eyes expansion as profits rise

Related tags: Casual dining

The Cote restaurant chain is planning further expansion following a review of its estate.

The casual dining group saw pre-tax profits climb to £5.5m, up from £4.6m, for the year to 28 July 2019.

Revenue rose by 7% to £156.9m, while adjusted EBITDA increased from £17.9m to £18.4m.

The company opened five new restaurants during the year and closed two underperforming sites following a whole portfolio review.

Cote was launched in 2007 and now operates 96 French-inspired restaurants.

“In light of the current trading environment, the directors are satisfied with the performance of the Company,” says director Strahan Wilson.

“In a year that has seen widespread closures across the sector, the directors are pleased that the business continues to deliver sales and EBITDA growth.

“The company is continuing to focus on its expansion within the UK for the foreseeable future.”

The Cote brand has managed to weather the storm of rising rents, rates and falling footfall which has seen its high street contemporaries such as Carluccio’s, Prezzo and Byron close large numbers of restaurants​ over the past two years.  

Cote’s parent company also owns the Jackson & Rye and Limeyard brands, which were discontinued in 2018 ​but still trade from four sites in London and Surrey.

Related topics: Business & Legislation, Casual Dining

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