The operator of 17 London restaurants in London generated a turnover of £22.7m, a 27% increase year on year, and reported a rise in adjusted EBITDA from £2.1m to £2.4m, which the company says it believes is ‘in line with best-in-class comparable operators in the UK’.
Loss before tax narrowed at the group from £1.2m to £373,000.
Led by founder Prue Freeman, Daisy Green operates a portfolio of Australian-style café-restaurants across the capital that includes a number of sites on boats.
It opened two new restaurants in the year to April 2024, one in the newly refurbished National Portrait Gallery and another on Heddon Street in Mayfair
Post year end, it opened two further locations in Holland Park and in South Kensington. Both are trading ahead of expectations, the business says.
In its accounts the group says that the business is susceptible to consumer confidence and expenditure and describes the economic outlook as uncertain ‘due to the 2024 budget, global unrest, the cost-of-living crisis, inflation, industrial action and strikes’, adding that there may be further pressure on confidence and demand.
Daisy Green says it will continue investing in new sites in the UK, while maintaining and improving like-for-like performance at its existing sites.
It also aims to continue to grow its direct-to-consumer coffee and lifestyle business