Revenue at Loungers increased by 24.7% in the 53 weeks to 21 April, rising to £353.5m in the latest full financial year.

The firm, which operates bars and restaurants including the Lounge, Cosy Club and Brightside brands, also saw its sales performance increase by 7.5% in the same period.

Loungers said the strength of its sales performance has been accompanied by "disciplined management of costs and a continued easing of inflation pressures".

As a result, the group expects its EBITDA for the 2024 financial year to be ahead of market expectations.

Over the period, Loungers opened a record 36 new sites, comprising 33 Lounges venues, one new Cosy Club location and two Brightside venues.

Overall, the group now boasts a portfolio size of 257 sites, having recently opened a site in Ely, Cambridgeshire, following the end of the 2024 financial year.

Chief executive officer at Loungers, Nick Collins, said: "I am delighted with our performance over the year. We have consistently out-performed the sector on a like for like basis whilst having delivered a record 36 new site openings. As ever, it's our continued focus on menu innovation, value for money and exceptional hospitality that is driving the strength of our performance in both the mature estate and our new openings.

"As we start the new financial year we are looking ahead with optimism. Our experience suggests that the UK economy is holding up well and we are well positioned to deliver continued growth."

The group said it will announce its full year results for the 2024 financial year on 9 July.

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