REG - Hostmore PLC - Trading update for the 26 weeks ended 3 July 2022

HostmoreAnnouncement

11/07/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220711:nRSK8787Ra&default-theme=true

RNS Number : 8787R  Hostmore PLC  11 July 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.

 

Hostmore plc

Trading update for the 26 weeks ended 3 July 2022 and guidance for FY22

Trading in line with expectations

Growth opportunities remain, despite consumer caution

 

11 July 2022

 

Hostmore plc (the "Company" and, together with its subsidiaries, being the
"Group"), the hospitality business focused on American-themed casual dining
brand, 'Fridays', the cocktail-led bar and restaurant brand, '63rd+1st', and
the fast casual dining brand 'Fridays and Go', announces an update on trading
for the 26 weeks ended 3 July 2022.

 

·    Guidance for the full year remains unchanged, with LFL revenues for
the period since 23 May 2022 in line with the expectations set out in the
trading update issued on 26 May 2022.

 

·    Organic growth continues in line with previously stated plans of the
Group, with the recent opening of the fourth 63rd + 1st restaurant, in
Edinburgh, on 7 July 2022.

 

·    On 5 July 2022, the Group extended its primary banking facilities for
an additional 12 months to 1 October 2024. The terms include an increase in
the value of the Revolving Credit Facility to £30m from £25m in support of
the Group's capital allocation policy.

 

 

Robert B. Cook, Hostmore plc's Chief Executive Officer, commented:

 

"More than one million customers visited our brands during June, and I am
grateful to all our valued and loyal customers for their ongoing support
despite the financial challenges currently faced by consumers. Additionally,
the consistently high guest opinion scores recorded reflect the phenomenal
effort of our teams to ensure every customer visit is a valued occasion.

Our new 63rd + 1st store on Frederick Street in Edinburgh has opened with the
fanfare it deserves and we are encouraged by the feedback so far. We expect
the store to trade well through the summer as Edinburgh hosts its annual
Military Tattoo and International Fringe Festival.

The new bank facility extension provides us with greater flexibility to pursue
growth opportunities which we are working hard and at pace to deliver."

ENDS

 

ENQUIRIES

Hostmore plc

Robert B. Cook, Chief Executive Officer

Alan Clark, Chief Financial Officer

enquiries@hostmoregroup.com (mailto:enquiries@hostmoregroup.com)

+44 330 460 5588

 

MHP

Oliver Hughes, Simon Hockridge, Eleni Menikou

Hostmore@mhpc.com

 

+44 203 128 8100

 

 

NOTES TO EDITORS

Hostmore plc is a growing hospitality business with its current operations
focused on the American-themed casual dining brand, 'Fridays', the
cocktail-led bar and restaurant brand, '63rd+1st', and the fast casual dining
brand 'Fridays and Go'. While Fridays has been trading for over three decades
in the UK, Hostmore was established in 2021 to provide a platform for the
development of hospitality brands under the leadership of an experienced
management team that has a record of building businesses in the hospitality
and leisure sectors. Hostmore's businesses are defined by their iconic brand
experience and vibrant heritage. As of 11 July 2022, Hostmore operates 90
restaurants in the United Kingdom and Jersey, a majority of which are in high
footfall locations, including retail parks, shopping centres and city centres.
Hostmore is exploring opportunities with TGI Friday's, Inc., the franchisor of
Fridays, to expand its existing brands into new franchise territories and is
seeking to add rapidly growing, early-stage businesses to its portfolio of
complementary hospitality brands, as well as to extend its offering in other
experience-led, leisure concepts.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUWAARUKUBRAR