Page 1

2024-07-23 15:20 RNS Number : 1199U Loungers PLC 01 December 2021 1 December 2021 Loungers PLC - Interim Results Loungers plc Results for the 24 weeks ended 3 October 2021 Another strong resumption in trading post lockdown that supports Loungers ' ability to out - perform profitably in a post Covid - 19 environment Loungers ( the " Group " ) is pleased to announce its unaudited results for the 24 weeks ended 3 October 2021 ( " the period " ) . Loungers operates a total of 184 sites , comprising 153 Lounge café - bars and 31 Cosy Cub restaurant - bars . The Group's sites offer something for everyone regardless of age , demographic or gender and the Group operates successfully in a diverse range of different sites and locations across England and Wales . The 24 week period being reported on includes four weeks to 16 May where the Group's sites were restricted to external trading only , and a further nine weeks to 18 July before the removal of the remaining Covid restrictions . Accordingly , only 11 weeks of the period were absent from any Covid restrictions . Financial Highlights 24 weeks ended 3 October 2021 24 weeks ended 4 October 2020 24 weeks ended 6 October 2019 £ ' 000 £ ' 000 ₤ ' 000 Revenue Adjusted EBITDA 102,361 53,493 79,827 27,086 13,205 14,475 Adjusted EBITDA margin ( % ) 26.5 % 24.7 % 18.1 % Adjusted EBITDA ( IAS17 ) 22,018 8,734 10,222 Adjusted EBITDA ( IAS17 ) margin ( % ) 21.5 % 16.3 % 12.8 % Operating profit 15,968 3,383 2,029 Profit / ( loss ) before tax 12,809 117 ( 2,494 ) Diluted earnings / ( losses ) per share ( p ) Cash generated from operating activities 10.4 0.1 ( 2.3 ) 35,903 20,937 12,561 Non - property net debt 3 October 2021 ₤ ' 000 4 October 2020 £ ' 000 4 October 2019 £ ' 000 11,890 13,554 29,340 Revenue growth of 91.4 % to £ 102.4m reflects the very successful resumption of trading from 17 May Adjusted EBITDA of £ 27.1m , up 105.1 % ( H1 2021 : £ 13.2m ) , driven by strong sales and margin growth IAS17 Adjusted EBITDA of £ 22.0m , up 152.1 % ( H1 2021 : £ 8.7m ) Underlying IAS17 EBITDA margin growth of 40bps against 2019 over the 20 weeks from 17 May , excluding the beneficial impact of the VAT reduction and other government support measures Operational Highlights Significant market out - performance post re - opening to 3 October Headline LFL sales growth of + 26.6 % in the period from 17 May to 3 October ( compared to 2019 ) is testimony to the strength of our brands and our teams Uniquely well - placed post Covid Suburban / market town focus protects against longer - term behavioural changes brought about by Covid Increased sales , efficiency and margin being delivered through the order at table app and the reduction in the number of dishes on the menu Resumption of new site roll - out 12 new sites opened in the period , comprising 11 Lounges and one Cosy Club . A further four sites have been opened post the 3 October half year end in Ringwood , Reigate , Colchester and St Neots irs.nbtrader.co.uk/ir/Loungers/newsArticle.php?id=311428213795333214&ST=LGRS 1/14