D&D London narrows losses and affirms expansion plans
Restaurant group D&D London reported a pre-tax loss of £16.56m for the year to 30 September 2021.
In documents filed with Companies House for D&D's parent company Panther Partners, the group saw earnings before interest, tax, depreciation and amortisation (EBITDA) for the period of over £3m.
Chief executive Des Gunewardena (pictured) said that D&D intended to expand "substantially" over the next few years, starting with a rooftop restaurant at 103 Colmore Row in Birmingham, which is expected to open in October, with further new site opportunities being evaluated by the directors.
However, despite describing D&D's prospects as "excellent", he acknowledged the challenges facing the sector, including staff shortages and inflation, and said growth plans would be "implemented with due care in this context".
Post-period, the group said it rebounded strongly and returned to pre-Covid levels of revenue in April and May 2022. Although June trading was adversely impacted by the Platinum Jubilee weekend and transport strikes the business "remained highly profitable" with a strong cash position.
D&D London owns and operates more than 40 restaurants in London, Manchester, Leeds, Bristol, Paris and New York and the 80-bedroom South Place Hotel in London.
Baton Berisha took up a role as managing director at the company in May but just three months later announced he would be leaving for a role at a rival restaurant group, believed to be the Wolseley Hospitality Group.
Last month, D&D opened its first dedicated UK events space in London and closed its Aster restaurant in Victoria after five years.
The group – which operates restaurants in the capital such as the Bluebird in Chelsea and Coq d'Argent in the City – was reported to be exploring a sale earlier this year.
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