Busaba Eathai, the Thai restaurant chain founded by Alan Yau and backed by Phoenix Capital Partners, reported an 18.9% rise in ebitda for the year to 28 May 2011. The company, which operated six restaurants during the period, including three new openings, said that ebitda rose to £1.609m for the year, with restaurant ebitda up 15.9% to £2.748m. Turnover for the year rose 48.8% to £15.314m. In accounts filed at Companies House, the group reported pre-tax profit of £93,583, down from £479,490 in the previous year, on the back of the opening costs for its sites in Hoxton, Westflield Shepherds Bush and Bicester Village. The group, run by operations director Jale Erentok, said that in a challenging economic environment it was pleased to achieve increased turnover and ebitda. It said that its three original restaurant “continued to show strong performance and that its new openings were experiencing “pleasing growth”. Since the end of its financial year, the group has opened further sites in Covent Garden and Westfield Stratford. It has recently secured a 25-year lease on a 4,222sq ft unit at the Angel Building in London’s Clerkenwell. The group expects to open the new restaurant in January next year. It is also set to open a site on the Kings Road, Chelsea before the end of the year.