London bar group Grand Union has announced expansion plans and improved performance after new initiatives and investments.
The business achieved like-for-like sales growth of 8.3% for the year to March 28 alongside sales of £7.1million and earnings (EBITDA) of £1.3million.
The company, which operates eight bars, has also reported “encouraging” progress for the nine weeks to May 30, with sales 21.9% ahead of last year. Like-for-likes sales were up 17.1%.
This period since the start of the new financial year has seen a “very strong” improvement at Grand Union in Wandsworth, south London, which has been relaunched after investment in its outdoor space. The restyled “Pleasure Garden”b (pictured) saw sales increase 50.7% at the bar over the nine weeks.
The group, which is led by chief executive Adam Marshall and backed by restaurateur and investor Luke Johnson, revealed that it was “actively assessing” potential new sites in selected London locations.
Adam said: “We have started to gain significant momentum in our estate as a result of several initiatives, which of course included investment in our Wandsworth site.
“In addition we have upgraded our drinks and food offering, and are implementing a people-focused strategy designed to recruit, train and develop every member of our team to the highest standard.
“Luke and I are firmly of the opinion that group expansion will be the focus for the future.”