Liverpool-based Indian restaurant chain Mowgli Street Food has revealed its sales are now above pre-pandemic levels.
Established by former barrister Nisha Katona, Mowgli began in 2015 with its first restaurant, found on Bold Street. A year later, it opened a restaurant in Manchester and now has several venues across the UK, including Water Street in Liverpool, Birmingham, Cheshire Oaks, Oxford, Sheffield, Edinburgh and Cardiff.
The entire restaurant industry was hit by enforced closures due to the coronavirus pandemic and numerous lockdowns, which curbed business. As a result, Mowgli said the 12 months to July 31, 2021, was "once again severely affected by the impact of the Covid-19 pandemic and associated government actions and enforced closures".
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As a result, Mowgli Street Food posted a turnover of £8.5m, down from £11.3m, reports BusinessLive. The company's pre-tax losses also widened from £3m to £3.2m over the same period. As a point of comparison, in its last year before the covid pandemic, the company posted a turnover of £11.9m and pre-tax losses of £1.2m.
A statement signed off by the board said: "The financial year was once again severely affected by the impact of the Covid-19 pandemic and associated government actions and enforced closures. Following a positive return to trade in the summer of 2020, the group's ability to operate was impacted by restrictions through the autumn and winter, followed by an eventual full national lockdown and closure of all restaurants from January 2021."
However, the business has recovered since a full reopening last May, once restrictions were eased. Sales have been very strong, overtaking levels seen before the pandemic.
The statement continues: "Following the full reopening in May 2021, however, the group has seen a very strong return to trade with sales significantly up on pre-pandemic levels. Whilst considerable uncertainty remains around the broader economic outlook for the UK, the group believes that through delivery of an excellent and consistent offer, a compelling value proposition and effective management control it can withstand market pressures.
"The group maintains a robust financial position to benefit from a strong relationship with its shareholders and bankers."
Mowgli plans to open four more restaurants this year - in Bristol, Preston, Edinburgh and Brighton. Speaking to the ECHO last year, owner Nisha Katona said that opening restaurants each year is part of the business' strategy.
Nisha said: "I try and build about three or four [restaurants] a year if I get the right sites in the right cities and I will because if I can create jobs why would I not do that? As long as I can create jobs and enrich lives in these cities, then I'll keep building."
