Its pubs division has seen revenue rise to £6m (FY21: £2.7m) benefiting strongly from normalised trading and pent-up demand post Covid-19. EBITDA (earnings before interest, taxation, depreciation and amortisation) is up to £0.5m (FY21: loss of £1.4m).
The business has added the Coach & Horses pub at Chiselhampton within its past financial year to take the pub estate to eight units and the board is now considering its strategy for Barkby Pub Co for the future.
Positive trajectory
Overall, group revenues are expected to increase by circa 29% to £19.4m, with EBITDA returning £1.6m for the year. It is expected that the continuing core business will report revenue of £10.4m and EBITDA of £2.5m for FY22.
Barkby Group said the return to more normalised trading conditions has seen all of the group’s divisions return to a positive trajectory – which has been underpinned by its property development business – but, in the short term, it “has resolved to dispose of all the group’s other businesses and investments, with the exception of Barkby Pub Co”.
Barkby added the proceeds from these disposals will be used to invest in the real estate strategy and reduce debt.
Exiting non-core assets
Executive chairman Charles Dickson said: “We are determined to focus on scaling our existing and established real estate business, with a particular focus on ESG-compliant roadside developments in the form of drive-thrus, trade counter, last mile logistics, convenience food and light industrial commercial buildings. We will therefore be exiting our non-core assets and businesses over the coming months.
“The performance of the group since the lifting of all Covid-19-related restrictions in February 2022 has been hugely positive and we look forward to the next financial year with confidence.”
