Ark Restaurants reports $75.86m in H1 2019 total revenues

14th May 2019 (Last Updated May 14th, 2019 11:53)

US-based dining establishments’ operator Ark Restaurants has reported a total revenues of $75.86m for the first half (H1) ended 30 March 2019, compared to the previous year’s $74.63m.

Ark Restaurants reports $75.86m in H1 2019 total revenues
American eatery Bryant Park Grill is owned by Ark Restaurants. Credit: libby.

US-based dining establishments’ operator Ark Restaurants has reported total revenues of $75.86m for the first half (H1) ended 30 March 2019, compared to the previous year’s $74.63m.

Company-wide same store sales of the restaurant increased by 0.9% for the six-month period (H1), compared to the same period in the prior year.

EBITDA of the restaurant chain declined to $3.86m for the six-month period, compared to $2.84m during the same period last year.

The restaurant company also reported a net loss of $731,000 for the six-month period of 2019, compared to the net income of $990,000m for the same period during 2018.

Operating income (loss) of the company for the first half of 2019 was $384,000, compared to $320,000 for the same period last year.

“Company-wide same store sales increased 0.9% for the 26 weeks ended March 30, 2019 compared to the same period in the prior year.”

Ark Restaurants currently owns and operates 19 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 total revenues of $35.31m for the second quarter of 2019, a slight increase compared to the previous year’s $35.27m.

EBITDA of the restaurant chain declined to $1.32m for the three-month period, compared to $769,000m during the same period last year.

The restaurant company also reported a net income (loss) of $669,000 for the second period of 2019, compared to the net income (loss) of $637,000m for the same period during 2018.