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Various Eateries PLC on Tuesday said its loss narrowed in the first half of its current financial year, as the group is ‘encouraged’ by early signs of market recovery. The London-based operator of restaurant, clubhouse and hotel sites under the Coppa Club and Noci brands said its pretax loss for the year that ended September 29 narrowed to £3.4 million from £6.7 million the year before. This was driven by revenue growth of 8.4% over the year to £49.5 million from £45.5 million. Adjusted earnings before interest, tax, depreciation and amortisation were £300,000, swung from a loss of £2.2 million in 2023 due to ‘solid trading performance and significant operational improvement’. Chair Glyn Barker said: ‘This year was one of steady progress and strengthening our foundations for future growth. A great deal of hard work has taken place behind the scenes to fine tune our operations and enhance our estate, all while taking steps to navigate industry challenges. ‘In that context, returning to an adjusted Ebitda profit is a great achievement and stands the Group in good stead moving through financial 2025. ‘The sector has experienced a tough few years, but we are encouraged by early signs of stabilisation. The measures outlined in the Autumn budget create new challenges for businesses, but our disciplined approach to cost management and the operational efficiencies we’ve achieved ensure we are well-placed to manage them. ‘Looking ahead, supported by a robust cash position and a strengthened leadership team, we will maintain our commitment to quality and innovation and are confident in our ability to deliver sustainable growth in the new financial year and beyond.’ Shares in Various Eateries were down 1.3% at 15.30 pence in London on Tuesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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