Sales soar for bars group Nightcap
Growing bars group Nightcap, which includes Luna Springs and Tonight Josephine in Birmingham, saw sales increase by more than 700 per cent in its latest half year of trading.
They were up from £2 million in the 26 weeks to December 27, 2020 to £15.8m for the six months to December 26 last year.
Earnings before tax for the period were £2.5m.
The acquisition of Barrio Familiain November 2021 brought four Latin American-inspired, Tequila-led, cocktail bars and Disrepute, a luxurious high-end Soho cocktail bar into the group.
The bars are continuing to trade strongly, with like for like revenue growth of 24.8 per cent for the nine weeks to February 27 this year compared to the same period in 2020 and 24.6 per cent when compared to the same period in 2019.
Sarah Willingham, chief executive of Nightcap, said: "Nightcap has had a fantastic half year. We have taken the first steps in significantly growing our family of bars, both by adding the Barrio Familia Group in November 2021 and by opening three more The Cocktail Clubs in Bristol, Reading and London. We finished the calendar year with 27 top quality, late night bars."
She added that the group saw continued excellent opportunities in the property market with over 24 sites in legal negotiations or under offer across several of its brands.
"We can look forward to the growth of our brilliant brands across the United Kingdom with confidence during the 2022 calendar year," she said.
