Boxpark, the London-based hospitality company, experienced a 35% spike in sales in its 2023 financial year after the World Cup and the Women’s Euro’s saw punters flock to its venues.
Operating from three venues across London, Boxpark provides areas for small pop-up restaurants to hire, provides a bar, and organises events, most prominently fan-watch-alongs where football games are projected onto huge screens.
Revenues during the twelve months to April 2023 rose by over a third compared to pre-pandemic levels to reach £20.5 million, while underlying earnings came in at £5 million, up from £4.4 million in 2019/20, a trading update revealed.
Much of the group’s success comes from its events, with 600 taking place over the financial year, helping bring in customers despite headwinds like weakened demand and higher costs prevailing for much of the twelve months.
Boxpark CEO Simon Champion said: “We’ve successfully navigated a challenging trading environment with high-cost inflation, stress on consumer spending, and changing patterns of consumers going out.
“Our results are testament that our agile and resilient approach is working but we still need to remain cautious in such a tough market.
“Whilst we anticipate these macro challenges to continue for now, we are optimistic about the future prospects for the business, having announced the opening of Boxpark Liverpool, the first of its kind outside of London in 2024, and now Birmingham.”