Burger & Lob­ster chain shows a touch of re­silience

Yorkshire Post - Business - - NEWS -

Burger & Lob­ster has hailed a “re­silient” per­for­mance af­ter re­cov­er­ing from a £10m loss to post a profit in 2017.

The chain closed four UK restau­rants to fo­cus on Lon­don and in­ter­na­tional ex­pan­sion dur­ing the pe­riod.

Net profit came in at £2.4m, com­pared to a loss of £10m in 2016 fol­low­ing a series of changes in­clud­ing ad­just­ments to the menu.

The busi­ness said a new range of starters and im­proved drinks of­fer­ing had in­creased spend per head by 2 per cent. Turnover de­creased by 4 per cent to £42.2m.

B&L re­duced costs through clo­sures and dis­pos­als, as well as chang­ing sup­plier re­la­tion­ships to re­duce wastage.

Un­der­ly­ing earn­ings also rose to £6.2m ver­sus £2.7m in the prior pe­riod.

The news comes as a wel­come bright spot for the restau­rant in­dus­try, which has faced a com­bi­na­tion of ris­ing costs and tough com­pe­ti­tion this year. Din­ing chains in­clud­ing By­ron, Jamie’s Ital­ian, Prezzo and Car­luc­cio’s have all slashed sites in a bid to cope with mar­ket chal­lenges.

“Burger & Lob­ster is an ex­am­ple of how a restau­rant brand can re­main re­silient in chal­leng­ing times for the high street,” said founder Misha Zel­man.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.