Openings, property and trading update

RNS Number : 0244Q

Nightcap PLC

25 October 2021

 

This announcement contains Inside Information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).  Upon the publication of this announcement this Inside Information is now considered to be within the public domain.

25 October 2021

Nightcap plc

("Nightcap" or the "Company" or the "Group")

Openings, property and trading update

Nightcap (AIM: NGHT) is pleased to confirm the openings for its three newest London Cocktail Club sites in Bristol, Reading and Central London throughout the month of November 2021, ahead of the Company's planned opening schedule and in time for the important Christmas trading period.

Trading across the Group continues to be strong and ahead of management's expectations, with the Group's London sites trading particularly robustly and benefitting from London Cocktail Month throughout the month of October 2021.

The new 3,500 square feet site in Corn Street, Central Bristol will open for trading on 18 November 2021.  The new Mansion House 1,500 square feet site at 78 Queen Victoria Street, Central London will open on 22 November 2021, followed by the opening of the 2,861 square feet site in Gun Street, Central Reading on 25 November 2021. 

The three openings will take the Group's total number of open sites from 19 to 22 sites, with an additional 11 sites currently in legal negotiations and a further 10 sites under offer, across several of the Group's brands.

Outside of London, Luna Springs in Digbeth, Birmingham launched its Christmas season on 23 October 2021, with a 100 capacity outdoor ice rink featuring lessons and skate shows and an indoor 600 capacity bar, event space and Christmas market.

Nightcap intends to announce the Group's results for the year ended 27 June 2021 on 15 November 2021.

Sarah Willingham, Chief Executive Officer of Nightcap, commented:

"We continue to see strong trading across the Group and are delighted to announce the beginning of our ambitious opening schedule for our various brilliant bar brands. We are bringing forward our opening schedule for the roll-out of the London Cocktail Club ahead of the important Christmas trading period."  

"The first London Cocktail Club site outside London, in Bristol, was launched in 2018 and has been very successful. We look forward to opening our second Bristol site in the prime Corn Street location. The Corn Street site will be the brand's biggest to date and is ready to host up to 300 people."

"I am so proud of how hard the teams have worked to ready the brands for nationwide roll-out, including the impressive November 2021 bar opening schedule. This has been achieved alongside growing the pipeline of new potential prime sites across the country and is a testament to the talent, collaboration and focus within the businesses."

For further enquiries:

Nightcap plc Sarah Willingham -Toxvaerd / Toby Rolph / Gareth Edwards	c/o Fleet Street Communications
Allenby Capital Limited (Nominated Adviser and Broker) Nick Naylor / Alex Brearley / Piers Shimwell (Corporate Finance) Matt Butlin / Amrit Nahal / Tony Quirke (Sales and Corporate Broking)	[phone] www.allenbycapital.com
Fleet Street Communications (Financial PR) Mark Stretton / Mike Berry	[phone] www.fsc.uk.com

 

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