Cabana traded "satisfactorily" in 2016 despite £2.3m loss

Brazilian street food brand Cabana traded "satisfactorily" in 2016 in what founder Jamie Barber described as a "difficult trading environment".

The London-based group of 11 restaurants reported an 18% increase in sales to £12.2m due to the launch of two new sites last year.

However, the accounts for the year end 31 December 2016 also showed adjusted EBITDA for the period stood at a loss of £665,126.

Write-downs for depreciation of assets totalling nearly £1m, and pre-opening expenses of just over £269,000 pushed that figure to a pre-tax loss £2.3m.

In April 2016, Cabana opened in Newcastle followed by Southampton in December. Over the summer of 2016, it also operated a pop-up on London's Southbank which was a "financial and PR success".

Cabana has six site in London; Brixton, Cabana at the O2, Covent Garden, Islington, Wembley, Westfield Stratford and Westfield White City, and further restaurants in Leeds, Manchester, Newcastle and Southampton.

Cabana restaurant group to open new site in Brixton >>

Cabana to open first site outside of London >>

Cabana to open third restaurant at Westfield London >>

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