D&D London, the international restaurant group formerly known as Conran Restaurants, has reported an 18% increase in EBITDA to £8.4m for the year to 31March 2014 and seen like-for-like sales in its London restaurants rise 7% in the six months to 30 September.
Turnover for the year stood at £93.1m, up 18% on the previous year, while cash profits after financing costs climb 16% to £5.5m.
Like-for-like sales at its South Place Hotel climbed 40% in the year, while Old Bengal Warehouse and Bluebird saw 14% increases.
Des Gunewardena, chairman and chief executive of D&D London, said: “We have had a very good first year with LDC as investors. A strong underlying sales growth of 5% from our established restaurants together with a substantial contribution from our recently launched ventures (South Place Hotel and the restaurants at the Old Bengal Warehouse in London and Crafthouse & Angelica restaurants in Leeds) has resulted in D&D’s biggest growth in sales since its buyout from Conran in 2006.
“This together with the impact of the acquisition in May of Madison Restaurant & Bar at 1 New Change in the City will result in significant further growth in revenue and profits in the current financial year.
“Longer term, we have secured a number of landmark restaurant sites which, along with investment in the remodelling of existing venues such as Avenue and Quaglino’s, will deliver a continuation of growth in earnings in future years. We are also actively considering a number of sites for our second hotel following the critical and financial success of South Place”.
