Burger & Lobster looks to gobble up more sites as turnover grows 43 per cent
Burger & Lobster has revealed a 43 per cent increase in turnover as it lays out expansion plans for outside the capital.
The London-born business just released its financial figures for last year with turnover reaching £32.7m – up 43 per cent on the prior year’s earnings when the business was rattled by pandemic restrictions.
Burger & Lobster, which has 10 sites in London hotspots such as Oxford Street and Soho, said that Ebitda doubled on 2021’s figures to reach £2.4m.
Last year the firm, which is owned by restaurateur Misha Zelman, also acquired their supply chain business in an effort to streamline the organisation of the business, taking the total revenue for the year up to £36.5m.
Dino Sura, managing director of Burger & Lobster, said: “The 2022 results were a great indication of the strength of the brand following the turbulent Covid years.
“We began investing in consolidating our supply chain into the business, started our restaurant-wide refurbishment programme and kept the focus on our people to now report an average length of service of 2.5 years.”
The eatery, at which customers can enjoy a whole lobster from just over £38, said it expects 2023 to be another strong year for the chain and is “actively looking” for new sites outside of London due to growing demand.
Burger & Lobster operates a further 11 restaurants in New York, Singapore, Bangkok, Genting, Kuwait City, Hong Kong and Doha.
Zelman said: “I am extremely grateful for every single person at Burger & Lobster delivering such positive results despite the challenging environment that continued through 2022.
“The future for the business is extremely exciting and I am looking forward to building on what we have achieved so far”.