The holding company of Searcys, the upmarket bar and restaurant operator and caterer, has reported EBITDA of £1.7m in the year to 30 June 2012, during which time it opened two new sites and invested in several more.
It compares to EBITDA of £2.2m in the previous reporting period (19 May 2010 to 30 June 2011). Turnover for Newincco 1002 Limited was £43m, up from £40.6m, and pre-tax profits were £418,687, against £725,915 in the previous period.
Operating profits of the group, which also provides catering services and concession contracts, moved from £858,451 to £528,419.
The company opened a new Champagne Bar at Westfield Stratford City and a new brasserie, the Roman Bath Kitchen, during the year.
Capex was £2.8m, up from £1.7m in the previous period. Roman Bath Kitchen received a £0.9m investment and Blenheim Palace a £0.5m spend. Enhancements were made of the new Westfield Champagne Bar (£0.4m), the St Pancras Champagne Bar (£0.3m) and its Pavilion Road events space (£0.4m).
The company was also awarded the catering contract for Belnheim Palace and worked on the F&B offer in the new terminal at Stanstead Airport.
“The directors are pleased with the progress which the company is making,” the firm said.
Net debt at the year-end was £1.2m.
Yesterday M&C reported the full-year results of subsidiary company Searcys 1847 Champagne Bar Limited.
