Buzzworks has enjoyed another successful year as the business reports an increase in turnover, up 18 per cent from £29.9m to £34.8m, for 2024
Underlying EBITDA, before site opening costs and non-recurring items was also up, from £2.94m in 2023 to £3.77m in 2024, up 28 per cent, and investment – in both capital and people development – continues to be top of the agenda for this year.
Colin Blair, Chairman of Buzzworks Holdings, said, “We are incredibly proud of what we’ve achieved over the past year, especially given the challenging market conditions facing the hospitality sector.
“However, although these are uncertain times for the industry, this is something that we have managed to successfully navigate as a family business thanks to our resilience and strong foundations playing out in another strong financial year.”
A total of £3m was spent across the portfolio, including the Ayrshire based company’s first venues in Inverclyde and East Lothian – Scotts Greenock at the new Ocean Terminal marina, and Lido Musselburgh, amid plans for another new Herringbone bar and restaurant to open in Barnton.
Additionally, the group invested in the refurbishment of several existing venues, such as Herringbone Goldenacre, The Mill House, and the addition of a new function suite at its popular South Queensferry venue, Thirty Knots.
Colin continued, “The opening of Scotts Greenock in 2023 and Lido Musselburgh in 2024 have been particular highlights, marking an exciting milestone for Buzzworks as we expand into new locations.
“At the same time, refurbishments across our portfolio demonstrate our ongoing dedication to maintaining the high standards our customers expect when visiting any Buzzworks venue.”
Buzzworks Holdings, which is ranked among the Top 100 Best Companies to Work For in the UK, manages 21 venues across East, West & Central Scotland, and, with over 800 staff, it invests its people through its bespoke training programmes, developing future leaders to support the company’s growth.
Looking ahead, the directors remain cautiously optimistic about the group’s prospects. Plans are in place to reinvest future cash flow into the existing estate and pursue new venue openings as and when potential opportunities arise.