Mowgli reports ‘extremely strong trading’

By Georgi Gyton

- Last updated on GMT

Nisha Katona-led restaurant group Mowgli reports ‘extremely strong trading’

Related tags: Mowgli, Indian street food, Nisha Katona, Indian cuisine

Mowgli Street Food experienced an “extremely strong return to trade” post the full lifting of Covid-19 related restrictions in July last year.

In its latest accounts filed at Companies House, the Nisha Katona-led restaurant group said that sales were 'significantly up' on pre-pandemic levels.

“Like-for-likes remain materially above pre-Covid levels across all segments of the business,” it reported. 

Turnover for the year ended 31 July 2021 was down £2.7m, to £8.6m, with adjusted earnings before interest, taxes, depreciation and amortization ​of £459k, compared to £505k in 2020.

Loss for the year, after tax, was just under £1.18m, compared to a loss of £1.15m in 2020; while net debt stood at £1.7m – a decrease of £0.2m on the prior year.

Tight control of overheads allowed the company to trade at a profit despite the severe impact on its business in the year, it said.

The company operated 12 restaurants at the year end, up two on the prior year following openings in Leeds and Cheshire Oaks, with openings in Cheltenham and its first in London​ since the year end.

Mowgli has a pipeline of five further openings set to launch including in Edinburgh, Bristol, Brighton​ and Preston.

Related topics: Business & Legislation, Street Food

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