Record year for Living Ventures
Living Ventures, which owns the Gusto restaurant chain, has revealed a record set of results for its last financial year and is now targeting sales of £45m.
The Cheshire company said aggregated sales for the group were £38.9m in the year to 31 March 2012, up 39 per cent a year ago. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) - excluding the costs of opening new venues - grew 59 per cent to £3m.
"We continue to focus on service excellence, the quality of our food and our training programmes," said managing director Tim Bacon.
"We are very proud that these continue to be recognised both within the industry and externally."
Living Ventures said its Gusto and Blackhouse brands had continued to grow during the year, with total like for like sales 4 per cent higher.
Two sites in Manchester were opened in the year: Oast House and Australasia. Since the year end, Living Ventures has opened a second Alchemist in Manchester and the Botanist in Alderley Edge. The group now operates from 27 venues.
Living Ventures is the proud operator of some of the most exciting brands in the UK restaurant and bar market.