Daisy Green achieved turnover of £17.9m for the 52-weeks ending 23 April 2023, compared to £13.7m in the previous year, and £8.2m in 2020. 

The brunch-led, all-day dining operator has 15 sites in London, and opened three new sites during the period including a landmark site in the City of London of over 10,000 sqft, which has “traded strongly.”

It said that revenues were generated evenly throughout the day parts and across multiple touch points.

Founder Prue Freeman said, “With this period being one of the first not to experience interruptions from Covid since 2020, sites were again able to operate at full capacity and deliver very strong revenue growth.

“The strength and demand for the brand continued to grow across the UK and the group has now doubled in size in revenue and earnings from pre-pandemic levels,” she added.

The café, bar and restaurant business reported adjusted EBITDA of £2.1m for the year, compared to £1.3m in 2022 and £0.9m in 2020 pre- Covid.

With one-off costs associated with landmark new site openings, one off site relocation costs, one off research and development and one off loan arrangement fee totalling £1.3m.

These figures include kitchen scaling-up expenses of £197,867 which relate to investment into the central kitchen to facilitate the landmark new openings in their ramp up phases during and post the period end.

Going forward, Daisy Green’s strategy is to continue to invest in new sites in the UK whilst investing in the required teams, infrastructure and processes to support growth.

Additionally, the company seeks to maintain, improve and grow ‘like for like’ performances in existing sites as well as grow its direct to consumer businesses including coffee, lamingtons, and lifestyle.

It said that the business and the hospitality sector as a whole remain susceptible to consumer confidence and expenditure, as the economic outlook continues to be uncertain due to global unrest, the cost of living crisis, and inflation.

A key operational risk for the business is its ability to attract and retain talent, both back and front of house, and it invests heavily in people, technology and training to mitigate these risks.

The Company raised £1.3m of equity capital during the period (B Investment Shares)