Arc Inspirations ‘actively exploring opportunities in new cities’
The figures came as Arc, which has brands including Banyan, Box and Manahatta, delivered total sales of £17.5m since April this year and earnings before interest, taxation, depreciation and amortisation (EBITDA) in the first half of the year of £3.7m.
The results for the 18-strong group included a record week in August when sales were above £1m across its 18 sites, which the group put down to brunches, events and pre-booked sales.
It estimated for the full year to 31 March 2022, it is set to see revenues pass £38m and profit go over £8m (EBITDA).
New openings
The group has unveiled a number of new openings recently including a new 7,000sq ft Manahatta venue in Birmingham city centre.
Tomorrow (Saturday 27 November), its 8,000sq ft Box sports bar and lounge is set to open in Deansgate, Manchester.
The Leeds-based business is eyeing further expansion next year with deals almost at completion in cities in the north and Midlands.
Arc CEO Martin Wolstencroft said: “We are delighted with this outstanding performance and are extremely proud of the tremendous, continuous effort shown by our teams – our success is testament to their strength and resilience.
“We are determined to continue to build on this very strong momentum and are making excellent progress on our growth ambitions."
Future plans
He added: “We have secured two further new sites, which we expect to open in the next 12 months and are actively exploring more opportunities in new cities as we continue to build a meaningful pipeline for our brands.
“Therefore, while it has of course been the most challenging of times, we look forward to the future with great confidence.”
Furthermore, the group reported it sold 1.5m cocktails since July and for Christmas this year, pre-booked sales and on a like-for-like basis are up more than a third (36%) for covers and over half (55%) in value (as of 22 November).
