Café-restaurant chain Loungers reported a 19% boost in revenue from £237m in 2022 to £283.5m in its latest set of results.
The company, which was founded in Bristol, saw profits drop by £14m over the past 12 months despite its "record" revenue. The restaurant chain, which operates Lounge and Cosy Club, saw profits fall from £21.6m to £7.3m over the last three months.
However, bosses at the group said there is scope for at least 600 Lounges across the UK, and despite the drop in profits Loungers opened 29 new branches in the past year and is pushing ahead with its ambitions to open 34 more in the next year.
