Loungers reports record year as sales and profits surge
📈 All-day café and restaurant group Loungers reported a 24.7% increase in revenue to £353.5m and a 25.9% rise in adjusted EBITDA to £59.6m for the 53 weeks ending 21 April 2024. Profit before tax surged by 56% to £11.4m, while operating profit grew by 37.7% to £20.3m. In January 2024, Loungers opened its 250th site in Rochdale and launched 36 new venues throughout the year. The company created 1,200 jobs and invested approximately £39m across the UK, aiming to reach 665 sites. CEO Nick Collins cited consistent sales growth and improving margins for the record profits.
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