Richard Caring: ‘Bill’s is back on track’

For the six months ended 30 June 2023, the group, for which Caring is main shareholder, says it delivered ‘highest ever’ like-for-like sales for its current trading sites at £45.3m, up 4.5% on HY22.

Group earnings before interest, taxes, depreciation and amortization (EBITDA) was £2.45m, an increase of £2.55m on HY22.

Bill’s says the results follow a comprehensive review of its estate and business goals. 

Led by managing director Tom James, the group has been ‘repositioning the brand towards prominent trends including Gen Z, families, and breakfast and brunch daytime trade’.

It has also overhauled its website, which it says has resulted in website traffic and bookings up 22% on last year.

“Despite the backdrop of the challenging trading environment, I am pleased with our performance at the half year with all sites generating higher EBITDA than last year,” says James.

"The business is now on a firm footing for future growth and focussed expansion.”

Prior to the pandemic Bill's operated an estate of c.80 sites, but the impact of Covid has seen its trading portfolio reduce by nearly half​​.

It now operates a total of 46 sites, all based in England.

Caring says that James and his teams’ ‘forensic approach to cost controls' have paid off.

“The numbers speak for themselves that Bill’s is back on track,” he says.

“The necessary steps taken by Tom and the team such as their forensic approach to cost controls have paid off and Bill’s remains a popular dining location.

“Continuing to deliver a best-in-class customer experience offering heathy and seasonal food and drinks, the team have transformed the business, whilst remaining true to the values of Bill’s.”