Grind, the coffee shop, bar and restaurant operator, has reported annual sales of £8.3m for full year 2022 - compared to £2.1m in the heavily covid-impacted 2021.
The 13-strong operator said its High Street bounced back well the business generating EBITDA of £200,000, having made losses in previous years.
Larger cafes finished the year at pre-pandemic levels, but smaller coffee shops are seeing slower footfall with work from home.
Grind’s coffee trucks in Battersea Power Station and Bicester Village have bene particularly successful.
Covering the year ending 30 April 2022, Grind & Co posted an operating loss of £1.4m and a loss for the financial year of £1.8m.
The company has bank loans totalling £4.7m, with variable interest rates between 3%-4%.
Writing in a business review, founder and CEO David Abrahamovitch wrote: “Given the challenges the business and the broader industry faced during the year, management is satisfied with the strong and profitable trading results delivered by the business.”
