Anglian Country Inns has reported results for the 52 weeks ending 3 April, with a revenue of £14.3m – up from £5.4m in 2021 – and a 20% increase in like-for-like (lfl) revenue on 2019.
In its latest accounts filed at Companies House, the pub and inn operator further reported EBITDA of £1.96m, up from -£0.2m in 2021, and group operating profit for the year at £1.56m from a loss of £0.58m in 2021.
The business generated site EBITDA of £3.9m, with margins at 74.2% - dropping only slightly from 76% in 2021 – due to a restricted F&B offering.
The beginning of the financial year was hampered by restricted trading due to Covid measures, with supply chain disruption and food inflation further interfering with the consistency of operations through the year. A combination of investing in outdoor trading, menu engineering, and passing on of inflationary costs helped the business navigate these challenges, according to the update.
Administrative expenses rose to £9.36m from £6.97m in 2021, with the difference reflecting the uplift in trade, according to the update. The business has renewed its mains gas and electricity rates for a fixed three-year term in October 2021.
The acquisition of The Farmhouse at Redcoats in January this year has further contributed to a balance sheet improvement to £4.7m, up from £1.3m in 2021. Anglian has recently opened a coffee shop and workspace in Hitchin and is looking to acquire further sites that “meet its requirements.”
