Burger & Lobster turns around finances posting pre-tax profit of £3.1m
Burger & Lobster has posted a pre-tax profit of £3.1m, just a year after site closures saw losses soar to more than £10m.
The restaurant group saw turnover fall 4% to £42.2m in the year to December 31 2017, but greater operational efficiencies and the closures of loss-making sites saw pre-tax profits grow by more than £13m.
The fall in turnover in 2017 was attributed to the site closures, with underlying sales increasing. Earnings before interest, tax, depreciation and amortization grew to £6.2m, from £2.7m the previous year.
Within the results, published with Companies House, Burger & Lobster said it would continue to pursue operational efficiencies, labour controls and the disposal of loss making sites.
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