LEON narrows loss in 2024 amidst continued economic challenges
Annual revenues fell by £2.4m.
LEON reported a loss of £8.38m for the full year 2024, narrowing its loss of £12.54m from the year before due to continued challenging economic conditions.
Total revenues of restaurants were at £62.5m, a dip of £2.4m from the previous year. Gross profit for the year was £40.92m compared to £41.48m last year.
LEON said that weekly sales and footfall to its restaurants improved weekly, although the year remained challenging.
"Within the year, we have continued to actively control our cost base and have seen a significant reduction year on year. Industrial action, particularly rail and tube strikes, further affected the business, given the location of many LEON restaurants to transport hubs, resulting in lower footfall and sales on strike days,” the group said in its Companies House report.
The group also attributed its loss to the continued work-from-home trend, particularly those based in office-centric locations.
LEON reported that its total net liability was £30.33m.
