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Loungers - Strong trading delivers new upgrade

January 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LGRS
  • Price:
  • 227p
Loungers’ value-for-money casual dining concept, the addition of new and fashionable cuisines to its traditional offering (including a new range of tapas and flat breads) and all day trading continues to resonate with hard pressed consumers. Like-for-like sales were +7.6% in the 24 weeks to 1 October while overall revenue grew 22.3% to almost £150m. EBITDA rose almost 24% to £23.9m. Helped by the sales growth and better purchasing, EBITDA margins rose 0.6% versus H1 23, a great achievement given the national living wage increases. New openings continue to perform well and above average. Overall, it expects 31 Lounges, one Cosy Club and two Brightsides (the roadside format) to open this year. In spite of the expansion ...

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