Boxpark has reported a 178% rise in group revenue to £18.9m for the year to April 2022.
The dining, leisure, and retail concept published its latest financial accounts yesterday (13 February), reporting that group revenue rose by 24% vs the year ending April 2020, reflecting post-pandemic growth and strategic changes across the business.
In comparison, revenue was £6.8m in the year to April 2021, reflecting the impact of pandemic closures.
The growth follows LDC’s investment in Boxpark in September 2021, which has enabled investment across operational aspects of the business to enhance customer experience, according to the update.
This includes the option of mobile ordering, which has been developed into a multi-basket ordering system, enabling customers to order food and drink from multiple traders in a single transaction.
The group has also invested in its ‘Black Card’ loyalty program, which allows customers access to offers and Boxpark events as well as enabling the business to focus on targeted communications.
The concept currently has three sites in the pipeline. Boxpark Bristol will be the first existing format venue outside London, while Boxhall Bristol and Boxhall City will mark the launch of the new sibling concept.
The business has also made senior hires such as head of marketing and head of people & culture, following the appointment of Simon Champion as CEO in May 2022. It has further invested in new employee benefits and a training scheme.
Champion commented: “We are obviously delighted with our 2022 results and the changes we were able to make to our business in that period to enable us to grow further. And whilst we are optimistic about our future trading, we know that the hospitality industry is facing tough times, so we need to continue to adapt to changing trends in the eating-out market and keep innovating and enhancing our offering to suit our customer.”
“This set of results shows we can do that, so we are hugely excited for the next few years”.
