Bill’s, the Richard Caring-backed group, is on track to post full-year turnover of close to £90m in its current financial year and has a current run rate EBITDA of over £14m, M&C Report has learnt.
The 53-strong group is set to report turnover of £53.9m for the year to 27 July 2014 next week, up from £27.5m the previous year, while EBITDA will have climbed from £3.7m to £7.7m, in a year in which the brand opened 18 sites to reach 41 restaurants.
M&C Report understands that the company reported its first £2m-turnover week just before Christmas and has continued to generate high single digit growth in like-for-like sales on a year to date basis.
It has opened a further 12 sites since the end of July and it is believed that all are performing ahead of expectations.
It plans to open a further 20-plus sites over the next 12 months and believes there is scope for over 250 openings in the UK for the brand.
The 53-strong group, which is expected to explore its options in 2015, plans to open three sites in February, in Leicester, Peterborough and Maidstone.
The company is understood to have secured a site in Baker Street for an opening next year and is believed to be close to picking up a further high-profile unit in south London.
It has also secured its second site in Cardiff, in the city’s Mermaid Quay area, and its first in Scotland, in Glasgow, which will open at the end of March.
The company has already lined up openings for next year in Taunton, Colchester, Gloucester Quays, Witney and Marlow.
