Comptoir Group revenue hits £14.8m

Comptoir Group Plc, owner and operator of Lebanese and Middle Eastern restaurants, has announced its interim results for the six months ended 2 July 2023, citing total revenue of £14.8m – an increase of 2.1% (H1 2022: £14.5m).

The company also reports like-for-like sales growth of 6% (VAT adjusted), with a gross profit of £11.5m, the same as H1 2022. 

Net cash and cash equivalents at the period end was £5.7m (H1 2022: £8.2m; 1 January 2023: £7.7m). The basic loss per share for the period was 0.64 pence (H1 2022: basic earnings per share 0.77p).

Comptoir Group currently oversees 20 restaurants nationwide, with a further six sites operating under franchise agreements. The business has also agreed terms for two new branches, including a flagship London restaurant, set to open in early 2024. 

Beatrice Lafon, non-executive chair for the group, says: "We are pleased with our first half results, delivering growth in total like-for-like sales (VAT adjusted) of 6% as we continue the transformation programme we started at the end of 2022. Total dine-in like-for-like sales (VAT adjusted) were up 8.1%.

"Having announced the opening of our first new owned site in over four years in Ealing later this year, we will continue our growth plans into 2024 as we are close to securing a new flagship Comptoir Libanais. We also continue to grow our franchise business first with our existing partner HMS Host and the opening of the first franchised Shawa in Abu Dhabi but also with a new additional partner which will see us open in Milan airport in 2024. Furthermore, a new digital experience will be offered to our guests in early 2024, our first web revamp in eight years.

"Comptoir Group remains in a strong financial position to take advantage of future opportunities and to continue to innovate."

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