D&D London hails ‘solid growth' despite £4.1m loss
Restaurant and hotel group D&D London enjoyed a 3% rise in revenue to £123.3m but made a £4.1m pre-tax loss in 2017.
That's according to the firm's latest accounts, lodged in Companies House, for the year to 31 March 2017.
D&D London runs some 40 restaurants across the world, with the majority such as Quaglino's, the Paternoster Chop House and Skylon, in London and the UK. The company also has a presence in major international cities such as New York, where it runs Gustavinos, Paris (Alcazar) and Tokyo (Botanica and Iconic). It also runs the South Place hotel in London.
In its directors' report, the company said it had seen "solid growth" during the year and that EBITDA, its principal profit metric, had risen by £0.1m to £13.1m for the year.
The main revenue drivers were the relaunch of 100 Wardour Street in February 2016, a full-year trade at German Gymnasium in London, which has performed "exceptionally well" since launching in November 2016, as well as a strong performance by its refurbished sites.
However, growth was partially offset by the planned closure of Bluebird, which underwent refurbishment in August and September 2016.
Profits were impacted by nearly £1.6m of pre-opening costs relating to launches at Aster, Bluebird and Radici in London, and Issho and East 59th in Leeds.
D&D London, run by Des Gunewardena and David Loewi, has several significant openings coming up in 2018, including 20 Stories in Manchester, Bluebird in New York, and Bluebird White City in London.
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