Comptoir Group recorded a profit before tax of £1.6m for the year to 31 December 2021, following losses of 2020 in £8.1m.
The group, which owns and operates 21 restaurants, and franchises a further four restaurants, achieved group revenue of £20.7m – up by 66.9% on 2020 levels, for the year ended 31 December 2021.
Adjusted EBITDA stood at £6.4m – up more than 350% on the figure in 2020 of £1.4m.
Chief executive Chaker Hanna said the business had emerged from the difficulties of the last couple of years in a better position than pre-pandemic, “with strong financial performance and a high performing portfolio of sites, allowing us to look to 2022 and beyond with great confidence, including our ability to expand.”
Hanna said that in anticipation of growth the group would be strengthening its management structure and had recently appointed a group marketing director and procurement manager.
The group opened a second Shawa site during the period, in Westfield London, which has been outperforming expectations, and it is looking to expand the concept in the coming year and beyond, “as we are in the most favourable position since the launch of the Company and have sufficient funds in place to accelerate our expansion”.
Its overall business strategy is to grow its company-owned and operated sites under both the Comptoir Libanais and Shawa brands, with Comptoir Libanais likely to remain the principal focus of its operations, it said.
The group also believes there is considerable potential to grow its franchised operations, which it sees as a complimentary and relatively low-risk route to extend the presence of its brands, both within the UK and in overseas territories.
“We have seen the opening of another two sites with our franchise partner HMS Host in Abu Dhabi Airport & Doha,” it said. Comptoir will also shortly open with the same partner in Stansted Airport.
Richard Kleiner, non-executive chairman, commented: “As these results demonstrate we have emerged from this period in an extremely strong position both financially and operationally and can look forward to an exciting period of growth.”
Kleiner said that since fully reopening last summer the results have been highly encouraging.
“Of course, 2022 holds its own challenges with the end of government support in respect of cessation of the reduced VAT rate and the normalisation of business rates charges, as well as the continued pressure on the labour and procurement markets.
“However, the management team have seen many periods of uncertainty before and there is no doubt we will once again navigate these challenges and continue to guide the group towards our exciting growth strategy. Therefore, we look forward to the future with much optimism.”
