Various Eateries sales jump 10.2% to £22.7m in H1

Various Eateries’ sales increased 10.2% to £22.7m during the 26-week period ending 31 March 2024.

Group like-for-like sales were marginally down, against a backdrop of one of the wettest winters since records began and with the company maintaining its strategy of absorbing most price increases. 

While this strategy puts temporary pressure on margins, the company believes prioritising customer satisfaction over short-term profit will position the group well for substantial growth once market conditions improve.

The operator said that the increase in sales has been driven largely by new site openings, including Noci Richmond which opened its doors in May 2024. The brand’s fourth site is a 90-cover restaurant based at the heart of the neighbourhood. The site has a similar profile to Noci Islington and is expected to see a similar positive sales trajectory as the venue beds in.

In addition, Coppa Club Cardiff remains on track to open later this month. The brand’s third townhouse site is located in the city’s popular leisure and shopping destination, The Hayes, benefitting from both high footfall and proximity to several large arenas including the Principality Stadium. 

Andy Bassadone, executive chairman of Various Eateries, said: “We remain steadfast in our approach, prioritising the preservation of the integrity of our brands over short-term financial gain, confident that this strategy strengthens our capacity for sustainable and profitable long-term growth. We are seeing the goodwill generated in our communities translate into customers returning time-and-time again, knowing they can rely on us to continue to provide a high quality and affordable experience where others are making compromises. 

“With several key operational enhancements made to our estate in the period, we firmly believe Various Eateries is well-positioned to grow into one of the UK’s leading hospitality groups, and enter the second half with a growing sense of optimism.”