NoHo Partners’ turnover for June 2021 was approximately MEUR 18 and operating cash flow was approximately MEUR 5, including MEUR 2.8 of support from the Finnish stateNoHo Partners Plc
STOCK EXCHANGE RELEASE 13 JULY 2021 at 9:00 a.m.
NoHo Partners’ turnover for June 2021 was approximately MEUR 18 and operating cash flow was approximately MEUR 5, including MEUR 2.8 of support from the Finnish state
NoHo Partners Plc’s turnover for June 2021 was approximately MEUR 18. It increased by roughly 32 per cent from the corresponding period last year and amounted to about 72 per cent of the turnover for June 2019, prior to the COVID-19 pandemic. In total, operating cash flow in June was roughly MEUR 5, including about MEUR 2.8 of closure compensation and business cost support from the Finnish state for March–May 2021.
NoHo Partners CEO Aku Vikström: “June’s turnover exceeded our expectations and strengthened our belief in a rapid recovery of the restaurant industry as the restrictions are lifted. Our operations generated positive cash flow of more than MEUR 2 in June. Behind this, there was the hard work carried out by our staff, sometimes in very hot conditions and with scarce resources. After the COVID-19 pandemic, the next battle in the restaurant industry will be fought over skilled employees. We have steered our business through the crisis by focusing on cash flow and people. Investing in staff and developing remuneration models and people management are at the heart of our strategy and the key competitive advantage that can be achieved in the industry.”
The development of business in July 2021 will be reported by the company in connection with its January–June 2021 half-year report on 10 August 2021.
A chart of the development of the company’s weekly sales in 2019–2021 is attached to this stock exchange release.
More information is available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 50 524 9445
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655
Distribution:
Nasdaq Helsinki
Major media
www.noho.fi NoHo Partners Plc is a Finnish Group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time employees. The company’s vision is to be the leading restaurant company in Northern Europe. www.noho.fi
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