M Restaurants reports 9.3% like-for-like growth

M Restaurants reports 9.3% like-for-like growth

M Restaurants has reported a like-for-like sales growth of 9.3% in the nine months to August 2017, as the company plans to launch a series of new concepts.

M Threadneedle Street has seen sales growth of 7.6%, while M Victoria has jumped 11.5%, helped by the completion and opening of new buildings.

“As the Nova Building reaches completion we expect even healthier sales performance,” comments M Restaurants CEO and founder Martin Williams.

Profits have also increased with an EBITDA increase of £198,000.

“Operations director Andre Mannini and group executive chef Michael Reid are wonderfully obsessive about the delivery of our offering – and it shows in the results,” Williams continues.

“Our Private Members MDEN lounges are almost at capacity and we will need to look at closing the membership in the coming months. MDENs have helped create a fantastic community of guests who share in our beliefs and our passion for great wine, food and service.”

The launch of a new style of restaurant began today, Monday 11 September, with the opening of M Bar & Grill in Twickenham.

“M Bar & Grill is a totally new, more casual concept but will retain the devotion to world class produce, exquisite preparation and outstanding, friendly hospitality that is making M Restaurants successful in a competitive market place,” says Williams.

“We chose Twickenham as it perfectly meets our requirements. There are everyday chains and Michelin offerings in the area and we hope to find a sweet spot for trading with a Modern British Bar & Grill that will become a home from home for the local community.”

A second M Bar & Grill is scheduled to open in the first half of 2018, with more to follow later in the year.