In a trading update for the 52 weeks ended 27 September 2026, the AIM-listed operator said adjusted EBITDA is expected to double to a record £2.8m, in line with market expectations, while revenue increased 8% to £56.4m.
The operator of Coppa Club and Noci returned to positive like-for-like sales growth in the fourth quarter, with group LFL sales up 2.2% and Coppa Club ahead 2.6%, providing what management described as positive momentum heading into FY27.
For the full year, group like-for-like sales were broadly flat, although Coppa Club delivered growth of 0.3%.
A key milestone during the year was the acquisition of The Linwood Collection, a portfolio of four premium pubs with rooms completed in March and April.
Coppa Collective acquired the predominantly freehold estate for £11.25m, representing around 7x historical site-level EBITDA, a multiple the board described as highly attractive.
The company said the acquisition broadened its premium hospitality offering while adding an established earnings stream and valuable property assets. Integration is progressing in line with expectations, with management focused on performance improvements while maintaining the individual character of each venue.
However, the group confirmed that its previously announced pursuit of The Queen’s Head would no longer proceed following the Asset of Community Value process.
Within the core estate, Coppa Collective continued to invest in its brands. During the year it converted Tavolino and 31 Below into Coppa Club locations, while negotiations are underway on a significant new site in the capital.
Meanwhile, Noci broadened its offer beyond its fresh pasta proposition, introducing a wider range of Italian dishes. Although sales remained below the prior year amid challenging trading conditions, site-level EBITDA improved by 12% due to stronger operational efficiency and cost management.
The company also pointed to disruption at its London Bridge venue, which was impacted by prolonged landlord works and closed for almost two months while being refurbished and converted into a Coppa Club. The site reopened in July and enters the new financial year without the previous external constraints.
Coppa Collective said the encouraging fourth-quarter performance has continued into the new financial year, supported by a full-year contribution from The Linwood Collection, improved operational efficiency and unrestricted trading at London Bridge.
The group’s balance sheet reflects the impact of the acquisition and continued investment in the estate. Cash at bank stood at £2.8m at the year end, down from £8m a year earlier, while net debt, excluding IFRS 16 lease liabilities, increased to £10.3m from net cash of £4.6m.
Chief executive Mark Loughborough said: “FY26 has been a positive year for Coppa Collective. We expect to report a doubling of adjusted EBITDA, higher revenue and, importantly, significant earnings growth from our existing business.
“We’ve been encouraged by the return to like-for-like sales growth in the final quarter and the positive start to FY27. With a stronger earnings base, an enlarged estate and a clear focus on delivering further improvements, I’m confident in the direction of the business and excited about the opportunities ahead.”
The company expects to publish its full-year FY26 results in February 2027.