South East-Asian restaurant concept Banana Tree, which is led by William and Anne Chow, has reported a 12.5% increase in turnover to £9m, in the year to 30 April 2016, MCA has learnt.
Like-for-like sales for the period were up 5.1% and site EBITDA increased from £1.3m to £1.7m. Group EBITDA stood at £1.2m in the period.
The eight-strong company said it had continued to trade well in the current year, with like-for-like sales up 6.6% for the five months to 30 September 2016.
The company is on track to reach sales of £10m in its current financial year, with site EBITDA of £2m and EBITDA of £1.6m.
Finance director Anne Chow told MCA: “We are delighted to be able to announce such good financial performance this year. The business to date has grown steadily, however the success of our two sites outside of London has boosted performance and shows that our model has great scope nationally.”
The group is currently in advance talks on a further site.
Last year the company opened in Oxford and also operates six sites in London and one in Milton Keynes.
