Grand Union, the London-based bar operator led by Adam Marshall, saw revenues increase 11.4% to £8.1m for the year ended 26 March 2016.
Site EBITDA climbed 21% to £1.5m with all sites showing “strong like-for-like growth”.
Marshall said that trading in the early part of the 2016/17 financial year for the eight-strong group had been encouraging and the business is expected to make further sales and profit progress this year.
Marshall said that the company had “created a strong platform for growth through improvements in the customer offering, investment in team development and a focus on operating margins”. He said: “With strong trading and cash generation, the company is actively assessing opportunities for expansion.”
To coincide with its tenth birthday, the company will open its newest venue at Thomas More Square, Wapping. The 6,300sq ft site will be known as Trade Union, and is designed to be a multi-layered experience.
In addition to an enhanced restaurant and bar offering, the team have entered into partnerships with selected trades who are experts in their field. This will include an artisan coffee house, florist and barber shop along with a free work-spacing environment for day use.
Luke Johnson, chairman, said: “The growth of the company over the last year has been very pleasing. Grand Union has a solid and improving business, which provides an excellent platform on which to build. The company has demonstrated that their offering has real resonance with existing customers and can attract new patrons. Adam’s Trade Union concept is a new avenue about which we are all very excited. It retains some important elements of the existing brand, and brings a new concept through strategic partners. We believe this could be a transformative step for the business”
Marshall, chief executive, said: “As Grand Union moves into its 10th year, I am happy to report continued growth for the company. The last year has shown the positive results of our various business initiatives, such as enhancing our outdoor spaces, developing our drink and food offerings, and investing in our people. Our customers have responded positively and we are confident of future opportunities to improve trading performance and growth potential.
“I am excited about the development of our Trade Union concept. We have taken inspiration from a variety of venues with the ambition of creating a blended experience for our customers in partnership with industry masters and who share our passion for hospitality and customer service.”
