French brasserie group Côte has emerged as the company with the fastest-growing profits in a new business index of companies in the eating and drinking market.
The group, which currently operates 31 restaurants, topped the inaugural Zolfo Cooper Profit Tracker - an annual list of the 50 companies with the fastest-growing profits within the UK's pub, restaurant, and quick service sector.
Formed in 2007 by the management team that sold Strada to Tragus, Côte took pole position after delivering a Compound Annual Growth Rate (CAGR) over a three-year period of a massive 225.3%.
Wasabi, the London sushi and bento chain, placed second, delivering CAGR profit growth of 79.8%, followed by Nando's, the fast-casual chicken restaurant chain, which reported growth of 75.3%. Other companies in the list included Pret à Manger, Yo! Sushi, Wagamama and PizzaExpress owner Gondola.
Alex Scrimgeour, joint managing director at Côte, said: "It is really nice to be recognised by this unique new benchmark. Our approach has been very much to keep our heads down, ensuring that our restaurants are delivering the right Côte customer experience specifically in terms of great food quality, attentive service, a warm environment and of course great value for money."
Paul Hemming, partner at Zolfo Cooper, added: "Despite the well-documented challenges for companies operating in markets exposed to discretionary consumer spending right now, this index is a timely reminder that there are still plenty of businesses that have thrived in the past three years - creating jobs and stakeholder value through impressive profit growth."
By Kerstin Kühn
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