Urban Pubs and Bars hails ‘record’ FY profits of £8.7m

Urban Pubs and Bars has announced a “record-breaking” rise in EBITDA of 26% to £8.7m for the financial year ended 28 April 2024. 

The group also reported a 16% rise in turnover to £60.5m and a 4% uplift in like-for-like sales in the period. 

Since the financial year-end, the independent London-based pub group acquired a further 10 hospitality venues in preparation for “further growth in 2025 and beyond”. 

Urban Pubs and Bars currently operates 53 pubs, bars and restaurants. 

Additionally, several pubs – including The Wren Tavern in St Paul’s, The Hagen and Hyde in Balham, and The Clapton Hart in Clapton – have recently undergone “extensive” refurbishments that have exceeded trading expectations.  

Over the Christmas trading period, UPB saw a 16% surge in like-for-like sales – with 75% of the estate recording their highest ever sales week. 

The group has recently secured a revised funding arrangement with Barclays, which has increased its available facilities to £30m, in order to support further acquisitions and refurbishments in 2025 and 2026.

Chris Hill, MD of Urban Pubs and Bars, said: “This has been a landmark year for UPB. Our growth is a testament to the hard work and dedication of our team, who continue to deliver exceptional experiences for our customers. 

“While we remain mindful of economic challenges, our strong trading performance and solid financial foundation give us confidence in our ability to achieve even greater success. We are excited about what 2025 and beyond will bring.”

Jim Pickworth, CFO of Urban Pubs and Bars, added: “Barclays has been a fantastic partner, and we’re thrilled to extend our relationship with them to fuel our future growth. This increased financial flexibility puts us in an excellent position to execute our strategic vision.”