Hub Box reports record sales

Cornwall-based burger and barbeque brand Hub Box has reported record sales and EBITDA for the financial year ending 31 December 2021. 

The 11-strong group brought in total sales of £12.6m, an increase of 75% on FY20 (£7.2m). Unaudited company EBITDA grew to £1.47m, up from £539k one year prior. 

Like-for-like sales for the 33 weeks following the easing of restrictions on 17 May were up 25.1% against 2019. Backed by Loungers co-founders Alex Reilley, who chairs the business, and Jake Bishop, the company opened two new sites in FY21, launching its Falmouth branch in June and its Cheltenham site in September. 

Richard Boon, Hub Box CEO and founder, comments: "We are very pleased with how well the business has performed, particularly given that we were unable to trade our sites fully for over a third of the year.

"We used the various lockdowns well to focus on improving our proposition, being ready to make the most of when we were able to trade, and building an infrastructure fit for ambitious growth. Our coastal sites benefitted from a very buoyant staycation market and our city centre sites also performed extremely well. Our two new openings in Falmouth and particularly Cheltenham have outperformed our expectations."

The group is currently relocating its Plymouth branch to the city's Royal William Yard scheme, which is expected to open ahead of Easter, and also has plans to launch a further two or three sites in the next 12 months. 

Talking long-term goals, Boon adds: "We believe that between coastal locations and major towns/cities in the UK there is scope for 100+ sites and we are busy negotiating on a number of opportunities as we gradually look to ramp up the Hub Box rollout."

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