Restaurant group D&D London has told The Times it has experienced a “post-Brexit surge” trading, as it reported a 16% jump in earnings to £13m in the year to the end of March, from turnover up 3% to £107.8m.
Like-for-like sales grew by 3% during the period.
Chief executive Gunewardena told The Times: “It was basically flat from end of 2015 through to June, with hardly any growth at all. There was quite a lot of caution before the referendum and the lousy weather at the start of summer didn’t help. We had a poor June and the first couple of weeks after the vote our numbers were poor. Then from the middle of July, when confidence started to return and the sun came out, we saw an improvement.
“People just seem to be getting on with their normal lives.Maybe they’re fed up with worrying about what’s going to happen and just enjoying the tail end of summer.”
D&D was forced to postpone a £100m share listing amid the market uncertainty at the start of the year.
Asked whether the IPO might be revived, Mr Gunewardena acknowledged that the markets had improved. “I wouldn’t rule it out, but for now we’re getting on and running the business,” he said.