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Urban Pubs & Bars (UPB) has announced EBITDA of £8.7m for the financial year ending April 28, 2024, a 26% YOY increase.
UPB operates 53 pubs, bars, and restaurants, reported a 16% rise in turnover to £60.5m and a 4% increase in like-for-like sales in the period.
UPB also reports that it has just delivered an exceptional Christmas trading period, with a 16% surge in like-for-like sales in December 2024, further cementing UPB’s reputation as a go-to destination for Londoners during festive celebrations, with 75% of the estate recording their highest ever sales week.
Since the end of the financial year UPB has continued to grow with the acquisition of 10 new sites, including notable additions such as The Gun in Spitalfields, East Dulwich Tavern and Balham Bowls Club. These acquisitions expanded the group’s footprint significantly and showcased its ability to revitalise and integrate diverse venues into its portfolio.
Additionally, several pubs, including The Wren Tavern in St Paul’s, The Hagen & Hyde in Balham, and The Clapton Hart in Clapton, have recently undergone extensive refurbishments that have significantly exceeded trading expectations.
Building on this momentum, UPB has already announced three high-profile openings for 2025. These include The George & Dragon in Wanstead, The London Fields in Hackney, and a new site in Covent Garden.
The group’s leadership has also revealed further expansion in 2025 and 2026, with a strong pipeline of potential acquisitions and developments to further strengthen its position as a leader in London’s hospitality sector.
To support this ambitious growth trajectory, UPB recently secured a revised funding arrangement with Barclays, increasing its available facilities to £30m. This enhanced funding will enable the group to accelerate its expansion plans, ensuring it can seize new opportunities across London’s vibrant pub and restaurant market.
Jim Pickworth, CFO of UPB, said: “Barclays has been a fantastic partner, and we’re thrilled to extend our relationship with them to fuel our future growth. This increased financial flexibility puts us in an excellent position to execute our strategic vision.”
Chris Hill, Managing Director of UPB, said: “This has been a landmark year for Urban Pubs & Bars. Our growth is a testament to the hard work and dedication of our team, who continue to deliver exceptional experiences for our customers. From iconic pubs to innovative dining and entertainment concepts, our venues represent the best of what London has to offer.
“While we remain mindful of economic challenges, our strong trading performance and solid financial foundation give us confidence in our ability to achieve even greater success. With new openings already planned and further opportunities on the horizon, we are excited about what 2025 and beyond will bring.”
Pub & Bar News is Sponsored by Harcus Parker
