Cabana reports operating loss despite turnover growth

09/10/2017 - 09:52
Cabana, the Brazilian barbecue restaurant group, has reported its full year results, showing turnover up 18% to £12.2 million but operating losses of £2.27 million for the year ending 31 December 2016.

The loss is up from 2015’s figure of minus £1.59 million while adjusted EBITDA also fell to minus £666,125, compared with minus £393,432 against the same period last year.

The company opened two sites during the year – in Newcastle and Southampton – and during the summer operated a pop-up in London’s Southbank that was a “financial and PR success,” according to founder, James Barber.

Barber added: "We traded satisfactorily in 2016 against the backdrop of a difficult trading environment experienced by many operators."

Along with business partner, David Ponte, Barber opened Cabana Restaurants at Westfield Stratford and Covent Garden in 2011, and now operates 11 sites across the UK.

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