The café and restaurant group achieved an operating profit of £10.7m for the year ended 27 December 2023, up from £3.7m the year before.
Benugo’s directors said they are ‘pleased’ with the results, commenting that the group’s ‘strong balance sheet and cash position ensures the company is robustly structured for the opportunities and risks that 2024 will bring’.
The group’s estate consists of more than 40 café delis and restaurants located nationwide on the high street, as well as in public spaces and workplace environments.
Its estate includes venues in spaces such as the Victoria & Albert Museum, British Museum, London Zoo, and British Film Institute.
Regarding its record breaking turnover, Benugo’s directors said: “We continued the work from 2022 in exiting poor performing locations that had been negatively impacting us and working with our key clients to drive mutual benefits, as well as winning new profitable business.
“We invested in additional training for our employees to drive productivity as we strive to become a more streamlined and focused company.
“These actions helped generate a stronger financial performance compared to the previous year and we are very proud of our teams’ efforts throughout 2023.”
The group added that it will continue targeting specific public space and corporate accounts going forwards and has already secured some ‘significant wins’ in the early part of 2024.
