REG - Various Eateries PLC - Trading Update & Notice of Results

Various EateriesAnnouncement

07/05/2025 07:00

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RNS Number : 5757H  Various Eateries PLC  07 May 2025

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014 as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. Upon the publication of this
announcement, this inside information is now considered to be in the public
domain.

 

7 May 2025

 

VARIOUS EATERIES PLC

 

("Various Eateries" or "the Company" and with its subsidiaries "the Group")

 

Trading Update & Notice of Results

 

Encouraging Like-For-Like sales momentum and strong profit growth underpin
confident outlook

 

Various Eateries PLC, the owner, developer and operator of restaurant,
clubhouse and hotel sites in the United Kingdom, announces an update on
trading for the 26-week period ended 30 March 2025 (the "Period").

 

The Group is trading in line with market expectations for the full year,
having delivered sales of £24.7 million for the Period, an increase of 8.8%
versus the prior year (H1 2024: £22.7 million). Growth was driven primarily
by the contribution of new site openings.

 

Like-for-like sales for the Period were flat year-on-year, primarily
reflecting the impact of Easter falling later this year and after Period end.
Including the five weeks of post-Period, trading to date (which include
Easter), like-for-like sales are up 1.3% versus the prior year.

 

Operational performance continued to improve, with site-level EBITDA
increasing by 81% on the prior period. Group profitability for the Period was
ahead of the prior year. These gains reflect the ongoing focus on operational
improvements and service excellence.

 

The Board is encouraged by the Group's trading momentum and improved
profitability as it prepares to enter the important summer trading months.
Supported by a robust balance sheet and strengthened operational platform, the
Group will continue to evaluate expansion opportunities while maintaining its
disciplined approach to site selection.

 

Cash at bank as at 30 March 2025 was £6.0m (H1 2024: £7.2m).

 

Notice of Results

 

The Company's interim results for the 26-week period ending 30 March 2025 are
scheduled to be announced on or around 27 June 2025.

 

Mark Loughborough, CEO of Various Eateries, said:

 

"First-half trading reflects the efforts made across the business to
strengthen operations and establish a solid platform for long-term growth.
Like-for-like sales for the year to date have been positive, driven by strong
performances from proven, all-season venues such as Coppa Club Tower Bridge
and Tavolino. Our outlook is further supported by a significant improvement in
profitability.

 

"In my first weeks as CEO, I've spent time with teams across the business and
gained a detailed view of our estate and how we operate. I've been encouraged
not only by the capability, energy and structure in place, but also by the
quality of the food, service and overall guest experience being delivered
across the Group. The combination of these strengths gives me real optimism
about what we can achieve.

 

"While the external environment is not without its challenges, the
enhancements made to the business have put it on a firm footing. The Group has
grown despite minimal price rises, maintaining its strategy of absorbing most
price increases and prioritising customer satisfaction over short-term profit.
This Group still has many levers to pull and is in a strong position to absorb
any external head winds.

 

"Looking ahead, we will continue to take a disciplined and measured approach
to expansion but do so with steadily growing confidence."

 

 

Contacts:

 

 Various Eateries plc                         Via Alma
 Mark Loughborough (Chief Executive Officer)
 Sharon Badelek (Chief Financial Officer)

 Zeus (Sole Broker & NOMAD)                   +44 (0)20 3829 5000
 Harry Ansell (Broking)
 Antonio Bossi (NOMAD)
 Darshan Patel
 George Duxberry

 Alma Strategic Communications                +44 (0)20 3405 0205
 David Ison                                   variouseateries@almastrategic.com (mailto:variouseateries@almastrategic.com)
 Rebecca Sanders-Hewett
 Will Merison

 

 

About Various Eateries

 

Various Eateries owns, develops and operates restaurant, clubhouse and hotel
sites in the United Kingdom. The Group's stated mission is "great people
delivering unique experiences through continuous innovation".

 

The Group operates two core brands across 20 locations:

 

Coppa Club, a multi-use, all day concept that combines restaurant, terrace,
café, lounge, bar and work spaces.

 

Noci, a modern pasta-led concept which serves very high-quality dishes at
reasonable prices.

 

For more information visit www.variouseateries.co.uk
(http://www.variouseateries.co.uk/) .

 

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