Various Eateries PLC (AIM:VARE, FRA:63U) shares rose more than 11% to 12.25p after the restaurant and hotel group reported a swing to record earnings and a strong start to the 2026 financial year.
The company, which owns the Coppa Club and Noci brands, said revenue rose 6% to £52.4 million in the year to 28 September 2025.
Like-for-like sales grew 2%, with stronger growth of 4% in the second half. Coppa Club led the way with 3% like-for-like growth for the year, including double-digit gains at breakfast.
Adjusted earnings before interest, tax, depreciation and other items rose to £1.4 million, up from £300,000 a year earlier. Gross profit jumped 64% to £5.7 million. Cash at year-end stood at £8 million, with net cash of £4.6 million.
Over the five-week festive period to 4 January, group like-for-like sales rose 9%, led by a 12% increase at Coppa Club. Performance peaked on key dates such as New Year’s Day, when sales at Coppa rose 53%.
The group said it would now focus growth on its two core brands, Coppa and Noci, and is actively exploring new sites and acquisition opportunities.
CEO Mark Loughborough said: "FY25 was a clear step forward for Various Eateries, where we turned intent into delivery. We tightened execution across the estate, strengthened the team and embedded a more disciplined, consistent way of operating, giving us a stronger platform to build from."
The next phase has "a clearer playbook and real momentum," he added, scaling the two brands "with discipline" by investing selectively and assessing high-quality, complementary M&A opportunities.