Arc Inspirations on course for record year with sales up 42%
Bar operator Arc Inspirations has reported record trading figures since reopening, with sales since 19 July up 42% against the same period in 2019.
The group delivered total sales of £17.5m since April 2021, and earnings before interest, tax, depreciation and amortisation (EBITDA) in the first half of its financial year of £3.7m, as well as a record week in August when it achieved sales of more than £1m across its venues, propelled by brunches, events and record pre-booked sales.
The group said it was on course for a record year in terms of both revenue and profit, which in the full year to 31 March 2022, is expected to see revenues surpass £38m and profit projected to surpass £8m (EBITDA).
In October, Arc unveiled a new 7,000 sq ft Manahatta bar in Birmingham city centre (pictured), with sales in excess of £75,000 per week, and this weekend will also open an 8,000 sq ft Box premium sports bar and lounge in Deansgate, Manchester. The group is planning further openings next year, with deals close to completion in regional cities in the North and Midlands.
Chief executive Martin Wolstencroft said: "We are delighted with this outstanding performance and are extremely proud of the tremendous, continuous efforts shown by our teams – our success is testament to their strength and resilience.
"We're determined to continue to build on this very strong momentum and are making excellent progress on our growth ambitions. We have secured two further new sites which we expect to open in the next 12 months and are actively exploring more opportunities in new cities as we continue to build a meaningful pipeline for our brands. Therefore, while it has of course been the most challenging of times, we look forward to the future with great confidence."
Established in 1999, Arc Inspirations is a Leeds-based bar and restaurant operator running 19 bars and restaurants across three core brands: Banyan, Manahatta and Box.
