M Restaurants have reported like for like growth of 9.3% in the nine months to August. CEO and Founder Martin Williams, formerly Managing Director at the Gaucho Group, said that, despite increased competition from The Ned, Coya and Temper in the last 6 months, his M Threadneedle Street had seen sales growth of 7.6% in the face of a generally flat trading period for most city restaurants. Helped by the general recovery in the area as new buildings open and scaffolding comes down, M Victoria has jumped 11.5%.
“As the Nova Building reaches completion we expect even healthier sales performance,” commented Williams. Profits have also increased with an EBITDA increase of £198k.
“Both venues have won even more awards this year,” he said, “and are becoming well known for an excellent quality of offering and hospitality.”
“Operations Director Andre Mannini and Group Executive Chef Michael Reid are wonderfully obsessive about the delivery of our offering- and it shows in the results. Our Private Members MDEN lounges are almost at capacity and we will need to look at closing the membership in the coming months. MDENs have helped create a fantastic community of guests who share in our beliefs and our passion for great wine, food and service.”
M Bar & Grill
The first of a planned series of new styled openings in the London commuter belt launches in Twickenham on Monday, September 11. Williams explains that this is a completely new venture and the location has been carefully chosen. “M Bar & Grill is a totally new, more casual concept but will retain the devotion to world class produce, exquisite preparation and outstanding, friendly hospitality that is making M Restaurants successful in a competitive market place. We chose Twickenham as it perfectly meets our requirements. There are everyday chains and Michelin offerings in the area and we hope to find a sweet spot for trading with a Modern British Bar & Grill that will become a home from home for the local community.”
Williams plans to open another M Bar & Grill in the first half of next year with more to follow later in the year.
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