Bar and restaurant chain Loungers has forecast better than expected profits after a post-Christmas Covid recovery helped it to record revenue.
The Bristol-founded group, which operates 164 Lounge cafe-bars and 31 Cosy Club restaurant-bars, reported total revenue of £237.3m despite “subdued” December trading as a result of the Omicron variant.
In a trading update for the financial year ending April 17, 2022, the firm said like-for-like sales also rebounded “convincingly” in the second half, up 17% net and 9% gross on a two-year basis.
