3Sixty Restaurants sees losses fall following focus on expanding Ego brand

13 August 2018 by
3Sixty Restaurants sees losses fall following focus on expanding Ego brand

3Sixty Restaurants has seen a reduction in its pre-tax losses after sellingthree Rocket restaurants last year to focus on its expanding Ego brand.

The company, which has focused on its core Ego brand of Mediterranean pubs and restaurants, posted sales of £19.5m in the 12 months to 25 March 2018 to Companies House. The figure marks an increase on the £18.8m turnover seen in the previous year.

EBITDA also increased to £1m, up from £955,908 for continued operations the previous year, which was offset by -£13,821 from operations discontinued in that year.

The company opened one new Ego brand pub over the year. Five more were opened the previous period, with the most recent results capturing their first full year of trading.

The strategic report from group financial director Julie Leigh stated: "With a strong balance sheet and a clear focus on opening more Ego sites, we are in a very strong position going forward and remain cautiously optimistic about the future."

The report considered potential future damage to the economy and labour shortages, both of which could be caused by Brexit, as areas of risk for the years ahead.

Leigh added: "The outlook for the forthcoming period is very positive as the new sites improve their performance and contribute significant EBITDA. We are actively seeking new pub opportunities for expansion."

Top 100: James Horler, 3Sixty Restaurants>>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking