Founded in 2002, Loungers has grown rapidly to a nationwide portfolio of 218 “Lounge” bars, and 36 “Cosy Clubs” which offer a unique combination of restaurant, pub and coffee shop; a proposition which differentiates from competition to appeal regardless of age, demographic or gender. As an all-day operator providing value for money, “Lounge” bars offer a “home from home” ambience and are competitive in a wide range of locations from market towns to coastal towns to retail and leisure centres. “Cosy Club” offers a more dramatic and up-market experience in city centres. In 2023 Loungers launched its third brand, with three “Brightside” roadside diners.

12 Jul 2023

Record revenue and industry leading LFL growth

Loungers has reported record revenue of £283.5m, up 85% on pre-Covid FY19. 29 new sites opened during the year, taking the total to 222 at year end. Excluding the continued estate expansion, like-for-like revenue growth was up 7.4% on the last year, and an impressive industry-leading 17.6% over the last three years.

Inflationary pressures have impacted margins, especially wage inflation, while the results also reflect the end of government Covid-support measures. The adjusted EBITDA margin (IFRS16) was 16.7%, down from 22.6% in FY22 and 18.7% in FY19. However, management reports that inflationary pressures are easing and they aim to restore margins to pre-Covid levels over the medium-term.

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