Daisy Green Collection hints at international expansion

Daisy Green Collection has hinted at international expansion after reporting a rise in turnover.

The group, which runs 17 cafés, bars and restaurants across London, said it was “continuing to invest in new sites in the UK and internationally” as well as the “required teams, infrastructure and processes to support this growth”.

Daisy Green was founded by Prue Freeman and Tom Onions in 2012 and serves Australian-style brunch and coffee from sites including the Peggy Jean barge in Richmond and the 10,000 sq ft Paradise Green in the City of London.

It reported a pre-tax loss of £373,955 in the year ended 21 April 2024, down from a £1.19m loss over the previous 12 months.

The group said its 2023 openings were impacted by inflated building costs and high utility prices.

Turnover rose 27% to £22.7m while adjusted earnings before interest, taxes, depreciation and amortisation reached £2.4m, up from £2.1m the previous year.

One-off costs, including research and development and utility bills in the second half of 2023, totalled £660,000.

Daisy Green said its results were “in line with best-in-class comparable operators in the UK”.

During the year it opened a site in the refurbished National Portrait Gallery and an upgraded corner location on Heddon Street.

Two further locations in Holland Park and on Exhibition Road in South Kensington have opened since April 2024, which Daisy Green said were trading “ahead of expectations”.

The company’s accounts said: “New build sites were impacted by both inflated and delayed build costs as well as significantly higher utility costs. Post year-end the company has seen energy prices start to return to more steady levels.”

“The company is continuing to invest in new sites in the UK and internationally while investing in the required teams, infrastructure and processes to support this growth.

“Additionally, the company seeks to maintain, improve and grow ‘like-for-like’ performances in existing sites as well as grow its direct-to-consumer businesses (coffee, lamingtons, lifestyle).”

Photo: Leyla Kazim