Anglian Country Inns revenues up 20% in FY22
The group’s EBITDA had reportedly grown considerably to £1.96m compared to Anglian’s -£0.2m last year
Anglian Country Inns reported that its revenues increased to £14.3m in the trading period ended 3 April 2022, and represents just over a 20% increase in like-for-like compared to 2019.
The group reported that its operating profit for the year was £1.56m, compared to its initial loss of £0.58m in 2021, while the group’s EBITDA had reportedly grown considerably to £1.96m compared to Anglian’s -£0.2m last year.
Due to the group’s decision to restrict its food and beverage offerings, margins have reportedly held up at 74.2%, a slight loss compared to 76% last year.
In addition, the group’s administrative expenses went up to £9.36m from £6.97m in 2021, with the difference being attributed to Country Inn’s uplift in trade.
Other operating income, primarily JRS, has reduced significantly to £0.28m from £2.3m last year.
James Nye, managing director of Country Inns, said: “The main financial focus of the business for this year was to rebuild the balance sheet after a tough year before in which the business suffered directly from the impact of Covid.
“Whilst the restrictions remained in place at the start of the year, the business responded incredibly well to the trading environment and managed its cash prudently through the year. It has rebuilt cash reserves to provide resilience moving forward.”