Tattu restaurant operator Permanently Unique grew revenues by 76% to £26.8m in 2022 (2021: £14.6).
Describing trading in 2022 as “exceptionally strong”, the performance followed the opening of Tattu London, which the group said it had performed very well.
The premium restaurant operator, which has five restaurants under its Chinese-inspired Tatta brand, reported like for like sales up 27%, delivered through mix of increased covers and higher spend per head.
Adjusted EBITDA grew by 23% to £4.7m (2021: £3.8m), while total profit after tax was £1.6m.
During the period, the group rebranded to Permanently Unique to allow it to explore new avenues of expansion, new concepts, and international opportunities.
Earlier this year, director Adam Jones told MCA how the group was preparing to launch two new concepts, including Fenix, a Greek/Mediterranean restaurant and bar set to launch in Manchester later this year.
The group’s five Tattu restaurants are currently in Manchester, Leeds, Birmingham, Edinburgh, and London.
The group’s start to 2023 has exceeded expectations, but in Q2, pressure on consumer discretionary spend has had a negative impact on covers – however spend per head remains high, due to the celebratory nature of the experience, and the demographic of customers.
Tattu restaurants achieve a high EBITDA conversion due to the level of spend per head, meaning it can absorb inflationary pressures.
Dividends of £1.66m were paid to company directors during the period.
