Côte turnover hits £144.9m in FY22

Côte Restaurant Group has reported turnover of £144.9m for the year ended in September 2022. 

Like-for-like turnover was flat compared to the one in 2019, reflecting the Omicron impact on Christmas trading and the impact of the cost of inflation being borne by guests. Adjusted EBITDA for the year was £3.6m.

During the period Côte has embarked on major investment to contemporise the brand and enhance the core estate, with twelve refurbishments completed and the development of a kitchen facility.

The group has made some significant hires during the year, which include executive chef Steve Allen, who previously worked for Gordon Ramsay group, and the appointment of Simon Townsend as non-executive director. 

The restaurant chain has said to have made some progress within their sustainability goals, including ingredients provenance and waste and energy management. Its distribution redesign has reduced mileage by 750,000 miles per annum. 

Executive chair Jane Holbrook said: “2021/22 was a challenging year with a macro environment impacted by both Covid and the knock-on effects of the Ukraine war. We’ve built our foundations for growth and are very well supported by Partners Group, acting on behalf of its clients. We are excited about our recent progress and have embarked on a brand renaissance supported by a brilliant team.”

“We’d like to thank our outgoing CFO James Sherrington who leaves us with our very best wishes after two years to pursue a long-planned lifestyle change for him and his family. We welcome Laura Wood as our new CFO. Laura comes to us after working at Wagamama as strategy director and interim CFO. We also welcome Sarah Hills, formally executive operations director at the Ivy Collection and managing director at Megan’s and Wagamama, who has joined us as COO.”