Boston Tea Party, the Bristol based café chain, reports 100% growth in group EBITDA to just shy of £1m for the year ending 22 October 2014. Strong LFL sales growth of 11.5% for the year is driven by both increased transaction values and increases in footfall.
The 4 recent new openings not yet included in like-for-like figures take the estate total number to 15 and drive total net sales up 39% to £9.4m. EBITDA conversion improved significantly due to growing scale and sound business controls in place which also enable new openings to trade profitably faster.
Sales momentum continues
The exceptional sales momentum has continued into the new financial year with the two weeks encompassing Christmas showing LFL sales growth of 28%.
Sam Roberts, MD says, “Our customers are treating us more and more as a destination enjoying the ambience created by the unique design and fit out of each of our cafes as a breath of fresh air compared to the many identical chains to be found on the high street. Our high quality ethical values such as serving only free range meat and organic milk is something that customers are caring more and more about and sets us apart from others.”
3 new sites
Boston Tea Party plans to open 3 new sites this year, one in Plymouth, a third site in Birmingham and a final one to be selected from the existing pipeline. Sam Roberts added “this year has been our best ever on almost all metrics and provides the clearest indication yet of the potential for future roll outs, making this a very exciting time in the lifecycle of Boston Tea Party.”
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