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.
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