San Carlo - Cicchetti Knightsbridge

San Carlo, the family-owned premium Italian restaurant group, increased turnover to £76.9m in 2023 (2022: £68.9m).

For the year ending 30 September 2023, the group posted profit before tax of £2.6m, in accounts filed for San Carlo’s parent company Templeton Holdings.

During the year, the company opened a new site in Alderley Edge, and completed a major refurbishment of San Carlo Liverpool. Both are trading well since opening and ahead of expectations.

Post year-end, the business continues to grow, and is currently completing a relocation of the Cicchetti Piccadilly site, and refurbishing and re-opening the Flying Pizza in Leeds, which celebrates its 50th anniversary in 2024.

At the period end, the group had shareholder funds of £11.3m (2022: £9.6m)

The group made a total profit of £1.9m (2022: £2.7m), which was lower than last year due to a loss on a disposal and pre-opening expenses.

Earlier this year, MD Marcello Distefano told MCA San Carlo was well positioned for growth as it looks towards a period of international expansion.

He said: “It feels like we’re at the start of something. We’re really excited about the next five years.”

The premium Italian dining brand, founded in 1992, by Distefano’s father Carlo, sees a “huge amount of opportunity internationally”, but will be remain agile in responding to growth prospects in the UK.

“I do think there’s going to be lots of opportunities over the next 12 months.”