The Cocktail Club owner Nightcap reports strong trading

pub & bar

By BigHospitality

- Last updated on GMT

The Cocktail Club owner Nightcap reports strong trading

Related tags: Nightcap, London cocktail club, Pub & bar

Bar operator Nightcap has reported a 46% increase in group sales to £15.5m for the 26 weeks to 26 December 2021, compared to the same period in 2019.

Like-for-like (lfl) sales rose 22.4% compared to 2019 levels for the group, which operates the Adventure Bar Group and The Cocktail Club – formerly London Cocktail Club – brands as well as Barrio Familia, which it bought late last year.

Excluding the period when Plan B restrictions were in place, Nightcap reports that its net sales increased by 52.7% and by 28.5% on a like-for-like basis for the 24 weeks to 12 December 2021.

Bookings at the start of the year have been impacted by the introduction of the Government’s Plan B measures, with more than 7,500 reservations initially cancelled. However, the group says that more than 70% of these have now been rescheduled to take place between January and March 2022.

“As we approach our first anniversary since our IPO, I could not be prouder of the entire team across our three operating businesses,” commented Sarah Willingham, chief executive, Nightcap.

“To achieve 46.2% growth in net sales and 22.4% on a like for like basis represents a monumental effort under any circumstances, not least during a time when new Covid-19 guidelines negatively affected the important Christmas trading period.”

During the period Nightcap opened three new sites under its The Cocktail Club brand in Bristol, Reading ​and Maison House in London​. Adventure Bar Group will open a Tonight Josephine site in Cardiff, on St Mary Street, in March.

The group says it is well positioned for ‘significant’ expansion this year with cash reserves of £9.4m for its operations and to execute its growth strategy and has a further 25 sites in legals or under offer.

Related topics: Pub & Bar, Business & Legislation

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