D&D London ‘pretty happy’ with record FY results

The D&D operated Skylon restaurant on London's Southbank
04/10/2017 - 10:29
D&D London boss Des Gunewardena said he was “pretty happy” with his company’s full year results after figures showed growth in turnover, EBITDA and like-for-like sales.

Results from the year ending 31 March 2017 showed turnover at the multinational restaurant operator of £125m, up 16% from the same period last year.

EBITDA (earnings before interest, tax, depreciation, amortisation and exceptional items) grew by 1% to £13.1 million and like-for-like sales across D&D’s UK sites grew by 3%.

Gunewardena said that revenues from a full year of its German Gymnasium and 100 Wardour Street restaurants being opened offset revenue lost by the refurbishment of the Bluebird restaurant in Chelsea.

He said: “In a year of great political and economic uncertainty surrounding Brexit and in the context of cost inflation on all fronts, we were pretty happy with these results. £125m was our highest ever-annual revenue.

“The current financial year started well but a poor late summer weather-wise has held back revenue growth. The pattern of trading we are experiencing is volatile with strong months interspersed with relatively poor months. 

“Underlying revenues in June were strongly up on last year, but August and September have been disappointing.

“We expect this uncertain pattern of trading to continue in the short term but we remain firmly confident about D&D’s prospects long term. We are therefore continuing to invest in significant new projects both in the UK and overseas.”

Latest projects include the launch of Fiume in Battersea Power Station in November and Spinningfields, a rooftop restaurant in Manchester, set to open later this year.

D&D London operates luxury restaurants and bars principally in London, but also has venues in Leeds, Paris, New York and Tokyo.

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