Drake & Morgan, the highly-regarded, bar-restaurant operator, which is currently reviewing its options, has reported a 44.6% increase in EBITDA to £2.07m for the year to 31 March 2012. The five-strong group, which is led by Jillian MacLean and backed by Imbiba Partnership, said it had “exceeded expectations” for the year, with turnover up 44.3% to saw turnover jump to £16.4m. Pre-tax profit stood at £1.27m, up from £960.4k. The company said it was “pleased” with the results for the year, which included the opening of the Drift in Heron Tower and said that like-for-like growth was achieved despite the challenging economic environment. As revealed by M&C Report earlier this month, the group has appointed PwC to review its strategic options in a move that could lead to a sale of the company. A sale process is likely to interest a mix of private equity and trade buyers, with Mitchells & Butlers, Greene King, Fuller’s, Young’s and Novus possible suitors. It recently secured a further two sites in the capital, the Happenstance at St Paul's, and a further site in Holborn, which are set to open over the next six months. The Holborn site was to be called the Haberdashery but is set to be renamed after a company of the same name came forward. Imbiba Partnership is currently raising funding through a new Enterprise Investment Scheme (EIS) to launch two new vehicles, bar and restaurant format Darwin & Wallace (D&W) and Camm & Hooper (C&H), a new company designed to make best use of event space in London.