Daisy Green Collection has suggested possible international expansion following a reported increase in turnover.
The group, which operates 17 cafés, bars, and restaurants across London, stated it is “continuing to invest in new sites in the UK and internationally” as well as the “required teams, infrastructure and processes to support this growth”.
Founded by Prue Freeman and Tom Onions in 2012, Daisy Green offers Australian-style brunch and coffee at locations such as the Peggy Jean barge in Richmond and the 10,000 sq ft Paradise Green in the City of London.
The company reported a pre-tax loss of £373,955 for the year ending 21 April 2024, an improvement from the £1.19m loss recorded in the previous year.
The group noted that its 2023 openings were affected by rising building costs and high utility prices.
Turnover increased by 27% to £22.7m, while adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to £2.4m from £2.1m the previous year.
One-off costs, including research and development and utility bills in the second half of 2023, amounted to £660,000.
Daisy Green said its results were “in line with best-in-class comparable operators in the UK”.
During the year, it launched a site in the refurbished National Portrait Gallery and an upgraded corner location on Heddon Street.
Since April 2024, two additional locations in Holland Park and on Exhibition Road in South Kensington have opened, with Daisy Green reporting that both are trading 'ahead of expectations.'
The company’s accounts said: “New build sites were impacted by both inflated and delayed build costs as well as significantly higher utility costs. Post year-end the company has seen energy prices start to return to more steady levels.”
“The company is continuing to invest in new sites in the UK and internationally while investing in the required teams, infrastructure and processes to support this growth.
“Additionally, the company seeks to maintain, improve and grow ‘like-for-like’ performances in existing sites as well as grow its direct-to-consumer businesses (coffee, lamingtons, lifestyle).”
