Di Maggio Restaurants eyes expansion as FY turnover hits £49.5m
DRG has expressed satisfaction with its margins and believes they ‘highlight the group’s core profitability’
Di Maggio Restaurants Group (DRG), the operator of 11 French and Italian hospitality concepts, is looking to acquire further sites to expand the business as the group’s turnover rose 7.8% to £49.5m in the year to 28 April 2024.
The Glasgow-based operator also revealed that its operating profit before exceptional items jumped by 21.5% to £6.2m in the period.
Gross margins for the year also rose to 74.1% from 73.5% in the previous year, while operating margins, excluding the impact of exceptional items, rose to 12.5% from 10.8% in the year before.
DRG has expressed satisfaction with these margins and believes they “highlight the group’s core profitability”.
In addition, the group continued to be a significant employer within the Scottish central belt, having employed approximately 963 members of staff in the year to April 2024 – a slight uplift from the 985 recorded in 2023.
While the group is trading profitably post year-end, DRG’s leadership team believes that the main risk to the business in the short and long-term is the condition of the UK economy.
However, the directors maintain their confidence that DRG’s “quality food and excellent reputation” will ensure the group continues to grow its market share.