Busaba Eathai reports strong annual performance
The Thai restaurant group announced its results for the year ending 28 May 2016.
According to the financial results, group turnover was recorded at £27.7 million, up 6%. Restaurant EBITDA jumped 16% at £4.65 million, while group EBITDA was at £2 million, up +21% compared to the previous year.
Two new restaurants opened in Manchester and Liverpool in the financial year. A further two restaurants opened in October 2016 on Eastcastle Street, off Oxford Circus, and in St Albans, Hertfordshire.
New menus have been introduced including a ‘Best of Busaba’ set menu and a Bangkok Express Lunch menu offering speedy, single-pot meals that can be customised with spices, pastes and meats to diners’ tastes.
Jason Myers, CEO, Busaba Eathai said: “We are delighted with the group’s performance. The investment in systems the brand and our people have delivered this year’s results. Improvements and controls put in place in terms of training and menu development have delivered a good trading result for Busaba Eathai whilst our mobile loyalty and payment programme has increased spend per head and repeat business. The fall in the value of sterling and the absorption of the National Living Wage will provide challenging conditions for the casual dining market, but through careful negotiation with suppliers and the continued evolvement of our reward-driven mobile app, we are confident Busaba will continue to perform well and remains on track to grow across the UK."
