Turnover for the Richard Caring-backed group grew 3.5% in the year ended 31 December 2023, rising to £314.7m from £302.9m in 2022.
Profit before tax increased from £29m to £37.7m, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose from £54.8m to £57.5m.
Group director Chris Robinson wrote in the results that the group’s proposition ‘proved compelling value’ for customers, which ‘contributed to another impressive year’.
Going forwards, the group, which now operates 50 sites across the UK and Ireland, plans to increase market share through the opening of additional sites, development of its menu offering and upholding customer service levels, Robinson added.
Last week The Ivy submitted plans to open a restaurant on the former Hugo Boss site in Nottingham.
The latest results come as questions remain over a possible sale of The Ivy.
It was reported in September last year that Si Advisers, a little-known London-based firm, was on the brink of signing a deal with Caring that would value the group at around £1bn, but nothing was ever formally announced.
In February this year insiders insisted the deal was still ‘very much alive’.
According to The Times, the deal is thought to have been delayed by Si Advisers bringing in a co-investor to help bankroll its bid.
However, the identity of the additional party remains unknown.
Troia’s estate encompasses The Ivy and The Ivy Asia (pictured) brands, as well as the London-based Granary Square Brasserie and Brasserie of Light concepts.