Harts Group posts modest profit following “satisfactory” year
Turnover was just under £8.2m for the year, compared to £10.7m in 2020, with the London-based restaurant group reporting a profit for the financial year of just under £281k, compared to a loss of just under £585k.
The business said that in light of the current economic climate and the competitive nature of the sector, the results for the year, and the financial position of the group at year end, were “considered satisfactory” by the directors.
The board believes Harts Group is well-placed to react quickly to changes in trading conditions and take advantage of business opportunities that may arise.
Post year end the group opened a new Barrafina site, which joins its Parrillan and Bar Daskal venues at London’s Borough Yard development.
Speaking to BigHospitality sister title MCA last month, Harts Group CEO Sam Hart said it was considering opportunities to branch out from its traditional restaurant heartland, and potentially into pubs.
The group currently operates in prime zone 1 locations across the five brands under its umbrella: tapas bar Barrafina, Spanish live-fire cooking concept Parillan, Mexican concept El Pastor, modern British restaurant and members’ club Quo Vadis, and wine bar The Drop.
