Busaba Eathai, the Jason Myers-led group, has reported a 21% increase in group EBITDA to £2m for the year to 28 May 2016.

The 17-strong company said turnover for the period climbed 6% to £27.7m, which the group said showed that “an average mature Busaba does north of £2m sales”.

The group, which opened in Manchester and Liverpool during the year, said restaurant EBITDA stood at £4.65m up 16% on the previous 12 months.

Since the year end, the group has opened in London’s Eastcastle Street, off Oxford Circus, and in St Albans. Further openings are lined up in Edinburgh, Reading and Leeds.

The company, which earlier this summer secured a private debt deal of £17m through Muzinich, the New York-based fixed income specialist, to aid its development plans, recently unveiled a new generation format featuring an evolved ‘Bangkok Thai’ brand proposition.

It said that two refurbishments had so far been undertaken with four more planned for its current financial year “to ensure interiors reflect the brand’s modern Bangkok proposition”.

Myers said: “We are delighted with the group’s performance. The investment in systems the brand and our people have delivered this year’s results. Improvements and controls put in place in terms of training and menu development have delivered a good trading result for Busaba Eathai whilst our mobile loyalty and payment programme has increased spend per head and repeat business.

“The fall in the value of sterling and the absorption of the National Living Wage will provide challenging conditions for the casual dining market, but through careful negotiation with suppliers and the continued evolvement of our reward-driven mobile app, we are confident Busaba will continue to perform well and remains on track to grow across the UK.”