The chief executive of Various Eateries has said the restaurant group is now running a “tighter” operation after seeing its profits dented by a rise in taxes and wage costs.
Mark Loughborough, who took over as chief executive in January, said increases in the minimum wage and employers’ national insurance contributions in April had cost the business £1.3m.
However, he said scheduling staff shifts around customer demand and hot summer weather had pushed the Coppa Club and Noci operator to record profitability.
Various Eateries’ EBITDA is expected to be at least £1.1m in the year ending 28 September 2025, compared to market expectations of £400,000.
Full-year revenue is expected to hit £52.4m, up 6% year-on-year.
It marks a turnaround for the business, which reported a pre-tax loss of £6.7m in the year ended October 2023.
Loughborough said his team were…
