Nightcap sees H1 sales increase 46% to £15.5m
The results were 46.2% higher than in the same period in 2019 and showed a 22.4% like-for-like increase compared with the same period in 2019
Nightcap has announced that during the 26-week period ending 26 December 2021, group net sales reached £15.5m.
The results were 46.2% higher than in the same period in 2019 and showed a 22.4% like-for-like increase compared with the same period in 2019.
Although more than 7,500 bookings for the Christmas period across the estate were initially cancelled following Plan B, the board said it was pleased to see that over 70% of these bookings were re-scheduled between January and March 2022.
Sarah Willingham, CEO of Nightcap, said: “To achieve 46.2% growth in net sales and 22.4% on a like for like basis represents a monumental effort under any circumstances, not least during a time when new Covid-19 guidelines negatively affected the important Christmas trading period.
“With the first new Adventure Bar Group site lease signed and a further 25 sites under offer or in legal negotiations across the Group, we are well positioned for significant expansion as we enter 2022 with sufficient cash reserves of approximately £9.4m for the group’s operations and to execute our growth strategy.”
