Comptoir Group, the owner of Comptoir Libanais and Shawa restaurants, has announced the reappointment of former CEO Chaker Hanna to the role.
This decision comes after the announcement that the group's current CEO, Nick Ayerst, will step down at the end of February 2025 to 'pursue an exciting career opportunity.'
Hanna, who stepped down as CEO in 2022, was selected by the group’s founder and creative director, Tony Kitous, to replace Ayerst. His reappointment is subject to regulatory checks.
Group revenue for the year ending 29 December 2024 increased by 9.5% to £34.5m. Full-year adjusted EBITDA is expected to exceed £0.5m, a significant improvement from a loss of £0.6m in the first half of the year.
Christmas 2024 marked the group’s 'most successful Christmas trading period to date,' with total sales for the six-week period ending 5 January 2025 reaching £4.6m, a 19% increase compared to the previous year.
Commenting on the annual results, Ayerst said: '2024 has not been without its challenges as the general economic climate and sector specific cost pressures continue to bear down on the group. Despite this backdrop, the senior management team has delivered a year of both sales and profit growth.
“The performance in the second half of the year was particularly pleasing, with an increasing cash balance and a strong Christmas trading due to a concerted effort by the team to elevate the guest experience. Furthermore, we have continued to invest in refurbishments, technology, sustainability and especially our people, where we have industry leading team engagement. These investments, which have now concluded, together with our new managed and franchised restaurants are building a solid foundation for the group.
“We are reviewing our cost base and efficiencies and we continue to address underperforming restaurants and will take appropriate action with these where required. We have every confidence that the progress on like for like sales growth and profitability will continue in 2025 and that the company is well positioned as it enters the new year after a period of strategic investment.”
Addressing the recently announced increase in the National Minimum Wage (NMW) and changes to Employers' National Insurance Contributions (NIC), Ayerst stated that these changes are expected to account for around 10% of total labor costs. Last financial year, labor costs stood at £800,000, and they are projected to rise to £1.1m on an annualised basis.
“Given the general economic background of continuing high interest rates and other ongoing cost pressures this increase in labour cost puts pressure on all businesses in the sector to further increase pricing,” he said.
“We believe that we can achieve some labour cost savings through our excellent skilled teams and maintaining our high team retention rates together with the tactical use of technology. This, alongside modest price increases and a rigorous focus on costs, means we are confident that the group will continue to deliver in 2025 despite these additional headwinds.”