Turning point for Mitch Tonks' Rockfish

Turning point for Mitch Tonks' Rockfish

Rockfish, the south west seafood restaurant group run by Mitch Tonks, has released its results for the year end 2019.

Sales across the group are up from £6.9m to £7.95m, delivering an overall operating profit of £114,000.

Group EBITDA dropped from £600,000 to £500,000 after the group saw a central costs increase of £150,000.

“This year was a real turning point for our business,” says Tonks. “We saw some tremendous like-for-like sales, opened one restaurant, but also paused to consider what was going on in the wider industry and economy, and focused on strengthening our senior team and building the pipeline for the future.

“In the year we opened a fantastic restaurant in Exeter, appointed Dave Strauss as restaurant director, continued to invest in our current people and our fish supply business (including having a dedicated trawler out at sea fishing for the best seafood in the world) and we completed on sites in Weymouth (which opened this year) and Poole. We secured a further site in Sidmouth and expect to announce more locations shortly, which will underpin our growth into 2021.

“In the year, we refinanced the business and found an excellent partner in Gresham Ventures, who were as excited as we are about our future plans.”