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Leeds-based hospitality group Arc Inspirations, which operates Box and Manahatta, has reported a 16.2% rise in turnover to £47.4m for the year to March.
The group also revealed that EBITDA for the year rose by 37.1% to £5.3m, with average site EBITDA up by 22% to more than £550k per venue.
Arc attributed its “strong” performance to a recent fundraiser, supported by BGF and HSBC, which raised a total of £7m.
These funds make the group “extremely well placed” to continue its plans to expand its footprint in key UK cities.
The year-end was also boosted by the opening of four new sites – Box Brindleyplace, Birmingham; Manahatta Newcastle; Box Nottingham; and Manahatta Sheffield.
In addition, Arc saw its “best Christmas sales period yet” for the week commencing 11 December 2023, when more than half of its 21 venues reported record sales.
Martin Wolstencroft, CEO of Arc Inspirations, said: “We are extremely proud of what the group has achieved over the past 12 months. As a business, we continue to track ahead of the market, which is extremely positive.
“Recent years have not been without challenges for the industry, yet these results indicate we have weathered the storm, and confidence in our brands remains high, across partners, stakeholders, teams and customers.”
He added: “These results are a huge credit to everyone that plays a role in driving Arc Inspirations forward and we’re excited for what the coming year will bring as we implement our growth plans further.”
