Leading Scottish hospitality group 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.
The company, renowned for its exceptional food and customer service, continues to go from strength to strength, with operating profit rising significantly.
Underlying EBITDA, before site opening costs and non-recurring items, grew from £2.94m in 2023 to £3.77m in 2024, as investment continued to be top of the agenda for the year.
Buzzworks’ growth is supported by a strategic focus on capital investment and people development, enabling the family-owned business to effectively navigate the current challenges facing the hospitality sector.
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.”
Buzzworks, which has built its reputation locally and throughout the industry as a people-focused business that is proud to support the communities in which it operates, has invested significantly in its new and existing venues.
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."
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.
Additionally, Buzzworks continues to invest in its team through its acclaimed training programme, which develops future leaders and supports the company’s growth ambitions.
The business is proud to be ranked among the Top 100 Best Companies to Work For in the UK once again, underscoring its reputation as a top employer in the sector.
Buzzworks Holdings manages 21 prestigious venues across East, West & Central Scotland and over 800 staff.
The award-winning company offers an aspirational dining and entertainment experience across Scotland through its other stylish brands – Scotts, Lido, House, Vic’s & The Vine, The Duke, Thirty Knots, The Bridge Inn, The Fox and Herringbone.
For more information on Buzzworks please visit www.buzzworksholdings.com
FURTHER INFORMATION
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About Buzzworks Holdings
Buzzworks Holdings is one of Scotland’s fastest growing independent restaurant and bar operators, managing 21 prestigious venues across East, West & Central Scotland and over 800 staff.
The award-winning company offers an aspirational dining and entertainment experience through its stylish brands – Scotts, House, Lido, Vic’s & The Vine, The Duke, The Bridge Inn, Thirty Knots The Fox, and Herringbone.
Buzzworks Holdings believes in investing in its people, providing bespoke training opportunities and a forward-thinking approach to work life balance for every member of staff.
To keep in touch with what’s going on at all of the Buzzworks venues, you can follow here:
Website – www.buzzworksholdings.com
Facebook – www.facebook.com/BuzzworksLife
Instagram – https://www.instagram.com/buzzworkslife
