Sukho Group, the operator behind fine dining restaurant concept Sukhothai and casual dining Zaap Thai Street Food, has reported a 18% increase in sales up to £16m.
EBITDA for the for the year ending March 2023 decreased slightly from £3.1m to £3m, with 2022 benefiting from around £1m of government support.
In 2023, the group expanded its footprint with the opening of its sixth Zaap in Sheffield in May, contributing £1.6m in sales during its first partial year of operation.
Looking ahead, Sukho Group has an agreement secured to lease a prime location on The Riverwalk in Durham for the seventh Zaap.
It also has ongoing discussions for additional sites in key target cities.
The group will look prioritize operational efficiency enhancements to maximise profitability.
A spokesperson said: “Despite challenging trading conditions marked by inflationary cost pressures, Sukho Group remains proactive in addressing challenges. Measures include direct imports of ingredients from Thailand to mitigate rising food prices and the repayment of outstanding loans, showcasing the group’s financial strength and stability.”
The group is led by managing director and chairman Gerrard Marks, who ran a wine and champagne distribution business supplying restaurants and nightclubs, before co-founding Sukho with executive chef Khun Ban in 2002.
