Comptoir Libanais profits dip amid difficult trading conditions

Comptoir Group, owner of Lebanese and Middle Eastern restaurants, has announced revenues of £14.8m, an increase of 2.1%, for the six months ended on 2 July. 

Adjusted EBITDA profit was £1m, a decrease of 73.7% compared to 2022, which the group attributes to “a challenging trading environment” dictated by the cost of living crisis, high inflation and the removal of government support with business rates and VAT.  

Like-for-like sales increased by 6%, with LFL Dine in sales growing by 8.1%. However, the group has seen delivery sales decline post the growth seen during the years disrupted by covid. 

During the six-month period, the group has opened a new site in Ealing and has agreed terms for two new sites including a London flagship restaurant set to open in 2024. 

Beatrice Lafon, non-executive chair, said: “Trading continues to be impacted by significant events outside of our direct control such as the ongoing public transport industrial action which now enters a second year. 

“We have also had a relatively poor summer in terms of terrace weather. Both of these issues have adversely impacted our sites, despite the welcome relief that a warm start to September and the completion of our terraces’ refurbishment has so far brought to a footfall.”

She added: “Comptoir Group remains in a strong financial position to take advantage of future opportunities and to continue to innovate. Whilst we remain cautious about the immediate future as macro challenges continue to prevail, we are optimistic about the longer-term prospects for the business.”