Brighton Pier Group’s Bars division has posted revenues of £15.5m for the 18 months to 25 December 2022.
EBITDA was £3.5m, compared to £1.8m in 2021, which included £2.5m of business interruption insurance income.
Like-for-like sales were up 2% on the same pre-Covid period in 2019.
At a group level, the Luke Johnson-chaired group posted revenue was £58.9m, profit before tax was £7.5m and group EBITDA was £13.9m.
The report covers the 18 months ending 25 December 2022, following the group’s change from a June to a December year-end, meaning the busy summer trading months is aggregated within a single reporting period.
The eight bars in the division trade under Embargo República, Lola Lo, Le Fez, Lowlander and Coalition.
As well as Brighton Palace Pier, the group operates eight indoor mini-golf sites and Lightwater Valley Adventure Park.
In his chairman report, Johnson wrote that rising inflation had led to “steep cost increases in all areas of the business”.
“The group has sought to pass these on wherever possible, however many of the indirect input increases were necessarily absorbed by the Group, constraining earnings in the latter six months of the period,” he said.
The group used strong earnings in the period to repay £9.1m of debt.
Commenting on the results, Anne Ackord, chief executive, said: “Like many in our industry, we have had to absorb higher costs relating to wages, energy prices and other inputs. Nevertheless, our businesses remain profitable, well managed and backed by a strong balance sheet and asset base.
“We are confident in the ability of our management teams to operate successfully in our markets, but we remain mindful of the continuing pressures from the wider economic environment in which we trade.”
