Various Eateries PLC Reports Revenue Growth and Strategic Expansion

Various Eateries PLC ADR ( (GB:VARE) ) has issued an announcement.

Various Eateries PLC reported a 9% increase in revenue to £49.5m for the 52 weeks ending September 29, 2024, driven by new site openings. The company achieved an adjusted EBITDA profit of £0.3m, marking a significant turnaround from a previous loss, and improved its cash position with £5.8m at the bank. Operational highlights include the successful opening of two new sites and a strengthened leadership team. Despite industry challenges, the company remains focused on strategic expansion and operational efficiency, with a positive outlook for sustainable growth in FY25.

More about Various Eateries PLC ADR

Various Eateries PLC is a dynamic hospitality group in the United Kingdom, focusing on owning, developing, and operating restaurant, clubhouse, and hotel sites. The company operates two core brands: Coppa Club, an all-day venue combining restaurant and workspaces, and Noci, a neighborhood pasta restaurant offering high-quality dishes at reasonable prices. Their strategy centers on expanding these brands to fill market gaps, particularly in the wake of high street restaurant closures.

YTD Price Performance: -6.06%

Average Trading Volume: 6,517

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £27.13M

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