Hudson Yards, New York
D&D London have today announced their financial results to year end March 2019 with headline numbers looking positive. The results come alongside Des Gunewardena, Chairman and CEO of D&D London clearly focused on growing the business in the USA, particularly New York.
Headline Numbers:
- Turnover +13% • Like for like sales +4% • EBITDA +12%
Des Gunewardena, Chairman and CEO of D&D London commented: “Despite the highly competitive trading environment and cost pressures we had another successful year growing both revenues and earnings. 20 Stories in Manchester had a stellar first year.
“We were also pleased with our New York openings, particularly Queensyard at Hudson Yards which is already established as one of our busiest restaurants.
“New York and the U.S. generally are likely to be an important part of the world for D&D to grow and we are looking at a number of new sites both in New York and in other U.S. cities.
“We do however remain committed to the UK and will in November open 14 Hills, a rooftop restaurant at 120 Fenchurch Street in the City, and we plan to open a restaurant and events venue in the Quakers Friars building at Cabot Circus in Bristol next Easter. Trading in the current year after a disappointing early Summer (due to poor weather) has improved in more recent months. We do however remain cautious about the next few months given the uncertainties of Brexit. The resolution of the way forward for the UK will have a significant impact on our trading for the crucial pre-Christmas quarter and for the full year.
“We do however remain positive in the long-term about the UK and will therefore commit to further projects here. However, we are building our overseas business, particularly in the US, in order to make D&D less reliant on the UK for future growth.”