Half-Year Trading Update & Notice of Results
Summary by AI BETAClose X
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
11 May 2026
Coppa Collective plc
("Coppa Collective" or the "Company" and, together with its subsidiaries, the "Group")
Half-Year Trading Update & Notice of Results
Coppa Club leads positive first-half trading
Coppa Collective plc, a premium, multi-format hospitality group, provides the following update on trading for the 26-week period ended 29 March 2026 (the "Period").
Highlights
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Coppa Club like-for-like ("LFL") sales growth of 3.2%, ahead of the market1 |
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Group LFL sales growth of 1.8%2, with Group revenue of £25.0m (H1 2025: £24.7m) |
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Acquisition of The Linwood Collection completed, establishing a third operating brand |
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Active pipeline of selective expansion opportunities |
1 The market refers to the Restaurant channel of the NIQ RSM Hospitality Business Tracker, which averaged -0.2% over the 26 weeks ended 29 March 2026.
2 Excludes Tavolino, where significant landlord works have reduced trading capacity during the Period and will continue until completion later in H2 2026.
Trading performance
Coppa Club continued to lead the Group's performance, delivering LFL sales growth of 3.2% and outperforming the wider market. Performance was broad-based across the estate, with a number of sites delivering strong double-digit LFL growth. Coppa Club's versatile, all-day format continues to resonate in the current environment, and the brand remains the focus of the Group's near-term expansion.
At Noci, a smaller and earlier-stage part of the Group, like-for-like sales were modestly behind the prior year, reflecting softer conditions in the broader casual dining market. In line with the strategy set out at the full year, the Group launched a broader food offer across the Noci estate post-Period, extending the concept toward a more complete modern Italian proposition. Early indications are encouraging and the second half will provide a more meaningful read on the evolution of the offer.
Brand portfolio and expansion
The Group completed the acquisition of The Linwood Collection, establishing its third operating brand. Integration is progressing as planned and early interactions with the acquired sites have been positive. Discussions regarding the potential acquisition of The Queen's Head (Surrey) remain ongoing, with the statutory Asset of Community Value process yet to conclude. The Company will provide a further update in due course.
Further detail on the acquisition of The Linwood Collection is set out in the Company's announcement dated 6 March 2026.
Post-Period, the conversion of 31 Below to Coppa Club, trading as Coppa Club Marylebone, was completed.
The Group is progressing an active pipeline of opportunities across both organic growth and targeted acquisitions. Each is assessed against a clear set of criteria: strategic fit with the Group's existing brands, quality of site and covenant, and the ability to deliver attractive long-term returns. The Board's approach is deliberately selective, with discipline on price and location remaining central to how capital is allocated.
Cost discipline and supply chain
The Group's cost base remains well protected against recent volatility in global energy markets, with electricity hedged for five years and gas for a further 18 months. The Group continues to monitor potential indirect impacts on supply chains from geopolitical developments, particularly in food and logistics. To date, no material effects have been observed, and the Group is engaged with key suppliers.
Outlook
Against a sector backdrop that remains challenging, the Group is currently trading in line with market expectations for the full year. The Board is mindful of the broader consumer environment and continues to apply its established approach to cost discipline.
Coppa Club's sustained outperformance, the integration of The Linwood Collection, the ongoing evolution of Noci and an active pipeline of quality opportunities together provide a strong platform for the second half and beyond. The Group enters the important summer trading period with confidence in its direction.
Cash at bank as at 29 March 2026 was £2.6m (H1 2025: £6.0m), reflecting the £12.25m cash outflow associated with the acquisition of The Linwood Collection.
Notice of Results
The Company's interim results for the 26-week period ended 29 March 2026 are scheduled to be announced on or around 24 June 2026.
Mark Loughborough, CEO of Coppa Collective, said:
"Coppa Club has delivered like-for-like growth of 3.2% in the first half, ahead of the wider market. This reflects the strength of the model: a clear offer, all-day relevance and good execution in a tough environment.
"Across the Group, we have added The Linwood Collection, continued to develop Noci and tightened operational discipline. The focus has been on building a stronger, more consistent business.
"We see a good pipeline of opportunities and will stay disciplined on both quality and terms as we look to grow. While there are some known headwinds in the second half, we are well prepared for them and remain confident in the direction of the business."
Contacts:
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Coppa Collective plc |
Via Alma |
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Mark Loughborough (Chief Executive Officer) |
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Sharon Badelek (Chief Financial Officer) |
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Zeus (Sole Broker & NOMAD) |
+44 (0)20 3829 5000 |
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Harry Ansell (Broking) |
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Antonio Bossi (NOMAD) |
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Darshan Patel |
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George Duxberry |
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Alma Strategic Communications |
+44 (0)20 3405 0205 |
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David Ison |
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Rebecca Sanders-Hewett |
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Will Merison |
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About Coppa Collective plc
Coppa Collective is a premium, multi-format hospitality group operating in the United Kingdom.
The Group operates three core brands across 24 locations:
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Coppa Club, a multi-use, all-day concept that combines restaurant, terrace, café, lounge, bar and work spaces.
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The Linwood Collection, a group of premium pubs with rooms.
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Noci, a modern pasta-led concept which serves very high-quality dishes at reasonable prices.
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For more information visit www.coppacollective.co.uk.
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