Restaurant group Gaucho Holdings, which operates the Gaucho and Cau brands, has seen its sales rise 3% as the group continues to expand.
Annual turnover for the group for the year ended 31 December 2013 stood at £55.5m according to its latest financial results, while EBITDA dropped slightly to £9.6m, down from £10m the year before. Gaucho Holdings said the difference was as a result of the cost of new Cau openings and investment in central costs ahead of the Cau roll out in 2014.
"2014 is proving to be an exciting year with three Cau sites successfully opened (Tunbridge Wells, Kingston and Bristol) and two more to open before 31 December (in Wimbledon Village and Henley-On-Thames)," said Gaucho Holdings finance director Gary Mann.
The company indicated that in 2015, it would continue to roll out the Cau brand in the UK in at least five locations including Liverpool, Reading and London. It also plans to evolve the Gaucho brand, following on from the refurbishment of its flagship restaurant in London in 2014.