Drake and Morgan FY profits rise as revenues hold steady

Drake and Morgan FY profits rise as revenues hold steady

Drake and Morgan has reported flat annual revenues but higher profits after lower costs helped offset a challenging trading environment for the 52 weeks to 30 March, with the group also recording its second consecutive year of record Christmas bookings. The London-based bar and restaurant group said turnover for the period reached £44.5m, which was broadly in line with the previous year on a like-for-like basis. Adjusted earnings EBITDA rose to …