The New World Trading Company (NWTC) has reported a record Christmas trading period, and is “well positioned” for growth with a clear pipeline of openings for the next three years. 

The 34 strong bar and restaurant operator has seen 17 of its sites exceed previous peaks in December, with forward bookings indicating further records to be broken by the end of the month.

Following disruptions from Covid, snow and the 2022 World Cup, NWTC has benefited from its first uninterrupted December since 2019, generating double-digit like-for-like sales compared to 2019.

The company said that despite inflationary pressures, EBITDA is forecast to more than double in the three months to December 2023 compared to the prior year.

The Graphite Capital group, recently opened a flagship site in Edinburgh under its ‘The Botanist’ brand, following a new site opening in Barnsley and a second site in Chester trading as North Light.

“Growth for the business is set to continue next year and beyond, with two new sites due to open in early 2024, in Sunderland and Bournemouth, with a strong pipeline beyond those”, the company said. 

 “After the sector experienced severe inflation in 2022 and 2023, particularly across food and energy supply, a real focus on driving margin expansion is starting to pay dividends, coupled with a healthy bounce back in sales”, executive chairman, Rod McKie said. 

 Following the appointment of Amber Wood as chief operating officer, the business is “well-positioned” with a clear growth strategy and an “exciting pipeline of openings for the next three years”, he added. 

The company recently filed its FY23 accounts, which showed revenue increasing by 20% to £72.0m, while EBITDA declined due to input price inflation, before recovering in the current year.

NWTC also announces that its chief financial officer, Jim Pickworth, is leaving the business after five years to pursue new opportunities and will remain in his role until Q1 next year.