Earnings release
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12 January 2026 Bow Street Group plc ("Bow Street Group", the "Group" or the "Company") Trading Update Bow Street Group (AIM: BOW), the owner and operator of "Wildwood" and "dim t" restaurants, announces the following trading update for the financial year ended 28 December 2025 ("FY25"). The Company has experienced a year of relative calm after several years of post-Covid disruption and turmoil. Trading stabilised during the final quarter of FY25 and the Group's restaurants had a successful four weeks in the run up to Christmas, with some restaurants experiencing record trading. Group revenue for the four weeks ended 28 December 2025 rose by over 1.3% on a like- for-like basis, and this was an encouraging end to the year. The Company expects to report FY25 results in line with current market expectations. In September 2025 £10.1m of new funds (before expenses) were raised and David Page was appointed as Executive Chairman and Nick Wong was appointed as CFO. The Company was also renamed "Bow Street Group plc", which completed the trio of a new name, a recapitalised balance sheet and a revitalised team. A comprehensive review of the Group's estate immediately commenced following the fundraising and over 280 work streams have been set up to improve performance in all areas of the business. The Company expects to realise the benefits of this review in the coming year. The current estate has a mixture of long leases and short/very short leases and each restaurant will be judged on its merits and performance. Further to the review outlined above, an agreement has been reached in connection with the lease at Gerrards Cross, which has been assigned to the landlord for a substantial premium. This restaurant was marginally profitable at the EBITDA level (before rent amortisation) and would have required an outlay in excess of £150,000 to refurbish. The net result for the Group is a major positive in cash terms. The Company is also introducing new targeted incentive schemes for the Group's employees and a share option scheme over approximately 200 million ordinary shares for 105 team members (including the executive directors) was instituted in December 2025. Looking forward to 2026, refurbishments of an initial six restaurants are underway; a new menu design will be trialled in February 2026; and new dishes are being launched across the estate. The investments and new menus will help the Group adapt to the increases in National Minimum Wage and Business Rates from April 2026. The early trading performance of, and customer growth at, the refurbished restaurants such as York, Ely and Billericay has been encouraging. The Group is in positive discussions with several potential acquisition targets and will update on the progress of these negotiations in due course. David Page, Executive Chairman of Bow Street Group, commented: "2025 was an important year for the Group as we completed a fundraise that will enable Bow Street to execute a revised strategy to create shareholder value based on improving the performance of the estate and delivering acquisitions of exciting and scalable restaurant brands. "During recent months we have conducted a thorough review of the Group's operations and have identified a number of areas for improvement. We have already started to implement some of these improvements and were pleased to see an uplift in trading in the run up to Christmas. Special mention should go to the Lincoln and Maidstone Wildwood restaurants and the Winchester dim t site, where exceptionally large numbers of customers were served. "We are in active discussions with several potential acquisition targets spanning European and Asian cuisine. Looking forward to 2026, it will be a year of rebuilding, refreshment and transformation for Bow Street." For further information, contact: Bow Street Group plc Tel: 020 7637 1166 David Page - Executive Chairman Jonny Plant - Chief Executive Officer Nick Wong - Chief Financial Officer Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) Tel: 020 7220 0500 Matt Goode / George Lawson / Trisyia Jamaludin - Corporate Finance Dale Bellis / Harriet Ward - Sales and Corporate Broking Allenby Capital Limited (Joint Broker) Tel: 020 3328 5656 Nick Naylor / Piers Shimwell - Corporate Finance
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Jos Pinnington - Sales and Corporate Broking Hudson Sandler (Financial PR) Tel: 020 7796 4133 bowstreetgroup@hudsonsandler.com Alex Brennan / Harry Griffiths / Jackson Redley