Restaurants

EG Group to add 10 new Leon sites in 2021

Leon’s new owner saw gross profits at its foodservice arm spike 231.4% year-on-year to $153m (£112m) during the three month period ended 30 June 2021

EG Group has announced that it plans to open approximately 10 new Leon sites across the UK before the end of 2021.

The retail giant made the announcement as a part of its Q2 FY21 results, during which it saw the completion of its Leon acquisition followed by “strong progress made on the integration into the group with a pleasing performance” in the period.

Related Articles

Leon’s new owner saw gross profits at its foodservice arm spike 231.4% year-on-year to $153m (£112m) during the three month period ended 30 June 2021.

The group attributed this to continued customer demand for ‘to-go’ and ‘delivery’ services, as well as an uplift on 2020’s Covid-19 restricted figures.

Zuber and Moshin Issa, co-founders and co-CEOs at the company, said: “We continued to make good progress in the second quarter, with a particularly strong performance from our foodservice business, driven by growth in customer demand for takeaway and delivery services and the easing of Covid restrictions across many of our countries.

“We are also pleased to have completed the acquisition of Leon Restaurants and look forward to expanding its offering with c.10 new restaurant openings planned this year, including the brand’s first ever drive-thru.”

During the quarter, EG Group saw total revenues soar 57.7% year-on-year to $6.51bn (£4.75m) in Q2 FY21.

The new Asda owner also reported a 23.7% growth in group EBITDA, up from $307m (£224m) in Q2 FY20 to $380m (£277m) this year.

The Issa brothers added: “The group’s latest performance is further validation of our successful global strategy.

“The resilience of our business model has been demonstrated during the pandemic, and we have emerged as an even stronger business as we enter the second half of the year with confidence.”

Back to top button