Ark Restaurants reports $74.6m revenues in H1 2018

16th May 2018 (Last Updated May 16th, 2018 14:03)

US-based dining establishments’ operator Ark Restaurants has reported a total revenue of $74.62m in the first six months ended 31 March, compared to the previous year’s $73m.

Ark Restaurants reports $74.6m revenues in H1 2018
American eatery Bryant Park Grill is owned by Ark Restaurants. Credit: libby.

US-based dining establishments’ operator Ark Restaurants has reported a total revenue of $74.62m for its second quarter ended 31 March, compared to the previous year’s $73m.

EBITDA of the restaurant chain declined to $2.8m for the six-month period, compared to $4.8m during the same period last year.

It includes a gain of $1.6m from the sale of the company’s real estate property Rustic Inn in Jupiter, Florida.

“Ark Restaurants currently owns and operates 20 restaurants and bars, 19 fast food concepts and catering operations.”

The restaurant company also reported a net income of $990,000 for the six-month period of 2018, compared to $1.3m for the same period last year.

Restaurant operating income of the company declined by $2.7m for the first half of the previous year to $320,000 for the same period this year.

Ark Restaurants currently owns and operates 20 restaurants and bars, 19 fast food concepts and catering operations in New York City, Washington, Las Vegas and the gulf coast of Alabama.

The restaurant chain also operates hotel room service, banquet facilities, employee dining rooms, food court concepts and restaurants inside hotels.

In addition, Ark Restaurants reported a total revenue of $35m, a slight increase compared to the previous year’s $34.6m.

Company-wide same store sales of the restaurant increased by 2.4% for the three-month period (Q2), compared to the same three month period last year.