The Terence Conran-backed restaurant chain D&D London has reported turnover up by 18 per cent and earnings by 14 per cent, for the year ending March 31 2008.
The chain, which is 51 per cent owned by Conran, has reported earnings of £8m on a turnover of £72m for the year.
On a like-for-like basis its turnover increased by 2.5 per cent, it states. Operating profits were up overall by ten per cent, to £4.8m.
The news follows reports that Conran is actively looking to sell his stake in the business. D&D confirms that ‘a large number of parties have expressed an interest in the opportunity’ to become a major investor in the business, since it appointed Goldman Sachs last month.
D&D chairman Des Gunewardena says, ‘Our restaurants are in excellent shape and our long-term plans for growing the business, particularly overseas, remain unchanged. We have a number of really exciting projects in the pipeline.’
D&D reports that its Skylon restaurant, designed at the Royal Festival Hall in London by Conran & Partners, is ‘trading very well’ since opening last May, and that Bluebird ‘performed very strongly’ following its refurbishment.
Some of its other London restaurants, Cantina del Ponte, Almeida, and Meza have also been refurbished during the year, as has its Guastavino’s in New York.
D&D also reports that the Coq d’Argent saw sales up 9 per cent for the year, and that sales at its Paternoster Chop House increased by 18 per cent. It owns 29 restaurants in London, Paris, New York, Copenhagen and Tokyo.