Loungers has seen revenue almost double from £53.5m to £102.4m in the 24 weeks to 3 October 2021, compared to the same period last year.

Adjusted EBITDA was £27.1m, up from £13.2m in 2020, while profit before tax was £12.8m, up from £117,000 last year.

Loungers achieved headline like-for-like (lfl) sales growth of +26.6% in the period from 17 May to 3 October, compared to 2019 figures. 

Since the end of the period Loungers said it had continued to consistently out-perform the sector and has achieved strong lfl sales growth, with headline lfl sales growth of +23.4% in the 28 weeks to 28 November 2021.

It opened 12 new sites in the period, comprising 11 Lounges and one Cosy Club, with a further four sites opened since the year end.

Loungers said further investment in the build and property teams has provided the capacity to accelerate its roll-out.

The group introduced differential pricing in July 2021, in order to help manage the inflationary environment, but still allows us to retain its “critical focus” on value for money, it said.

The business said it was mindful of the news of the Omicron variant but was optimistic looking ahead to trading over the Christmas period and beyond.

Nick Collins, Chief Executive Officer of Loungers said: “We will open 25 sites this year as we continue to benefit from the changing dynamics of the high street and our pipeline of new sites has never looked so strong.

“Our sustained growth alongside our operational discipline are enabling us to manage and mitigate most inflationary pressure.”