Loungers (LGRS)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM 100

279.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 286.00p
  • 52 Week Low: 182.50p
  • Currency: UK Pounds
  • Shares Issued: 103.83m
  • Volume: 8,860
  • Market Cap: £289.68m
  • RiskGrade: 184

Loungers sales rise amid focus on expansion

By Josh White

Date: Tuesday 25 Apr 2023

LONDON (ShareCast) - (Sharecast News) - Dining brand operator Loungers has reported like-for-like sales growth of 7.4% for its full year in a trading update on Tuesday, with a 17.6% increase compared to pre-pandemic levels on a three-year basis.
The AIM-traded firm said it reached a total revenue record of £283.5m for the 52 weeks ended 16 April, marking a 19.5% increase compared to the previous year.

During the year, the group opened 29 new sites, comprising 24 Lounges, four Cosy Clubs and its first roadside site under the new Brightside brand.

The acquisition of three freehold sites for a total of £3.9m and the acceleration of its site roll-out programme contributed to year-end net debt of £6.2m, widening from underlying net debt of £2.6m in April last year.

Its board said the group's sales performance demonstrated the "relevance and resilience" of its brands, adding that it expected EBITDA for the 2023 financial year to be in line with market expectations.

"We have once again delivered a truly stand-out performance over the year," said chief executive officer Nick Collins.

"Our sales have been exceptional with the mature estate trading 18% ahead of pre-pandemic levels and 7% ahead of what was a really strong performance last year.

"We have progressed well with our accelerated site roll-out programme, opening 29 sites during the year which as a cohort are trading well above average."

Collins said the property market was working in the firm's favour, describing its pipeline of around 35 sites for the 2024 financial year as "incredibly exciting", with nine openings planned for the first quarter.

"The first site of our new roadside concept, Brightside, has opened well, and we look forward to opening the next two Brightside sites in the summer.

"For almost a decade now we have consistently out-performed the market as we strive to deliver better for our customers and our teams.

"The inflationary pressure across our supply chain looks to be easing, and our scale and continued growth have allowed us to mitigate much of the impact."

Loungers said it was planning to announce its preliminary results for the year ended 16 April on 12 July.

At 0814 BST, shares in Loungers were down 0.97% at 204p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Loungers Market Data

Currency UK Pounds
Share Price 279.00p
Change Today -1.00p
% Change -0.36 %
52 Week High 286.00p
52 Week Low 182.50p
Volume 8,860
Shares Issued 103.83m
Market Cap £289.68m
RiskGrade 184

Loungers Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.65% below the market average77.65% below the market average77.65% below the market average77.65% below the market average77.65% below the market average
76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average
Price Trend
85.92% above the market average85.92% above the market average85.92% above the market average85.92% above the market average85.92% above the market average
92.73% above the sector average92.73% above the sector average92.73% above the sector average92.73% above the sector average92.73% above the sector average
Income Not Available
Growth
11.61% above the market average11.61% above the market average11.61% above the market average11.61% above the market average11.61% above the market average
49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average

Loungers Dividends

No dividends found

Trades for 23-Jul-2024

Time Volume / Share Price
09:59 42 @ 276.00p
09:00 1,200 @ 270.00p
09:00 1,200 @ 270.00p
08:21 1,708 @ 276.00p
08:21 460 @ 276.00p

Loungers Key Personnel

CEO Nick Collins
CFO Stephen Marshall

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