Loungers confident of full-year performance after first half revenue growth
Bar and restaurant operator Loungers said revenue and like-for-like sales increased in the 24 weeks to October, 6, boosted by its Lounge and Cosy Club brands.
Revenue rose 22% to £79.8m at the AIM-listed group, which opened 10 new sites during the period, as like-for-like sales rose 5.4%.
Lounger's 27th Cosy Club opened in Basingstoke earlier in October and the firm has a further three sites scheduled to open before the end of the month.
The firm added that it was on track to open 25 new sites in the financial year and said its pipeline remained "strong".
Chief executive Nick Collins said: "Both Lounge and Cosy Club have continued to perform well, reflecting the growing appeal of our customer offer in the communities in which we serve. Our broad, value for money proposition across multiple occasions underpins the resilience of our trading and leaves us well placed to continue to outperform the market."
"We remain confident of delivering another year of positive progress for the group and are encouraged by the performance of our new openings."
As of 1100 BST, Loungers shares were untraded at 199.50p.