Sixco, which is set to launch its seventeenth Six by Nico restaurant next month in Bristol, saw revenue from continuing activities rise to £41.9m for the year ended 30 June 2024, up from £29.6m the previous year.
EBITDA increased by 74% to £10.1m over the period, which the group said reflected enhancements in procurement, rota management, and operational processes.
Net operating margin improved from 14.6% to 18.3%, driven by the group’s ‘focus on scalability and efficiency’.
The group’s pre-tax profit from continuing operations was £3.3m (2023: £2.8m), while the total pre-tax profit including exception items and discontinued operations was £1.3m (2023: loss of £185,000).
Over the period Sixco added seven restaurants to its Six by Nico estate at an investment of £8.3m, bringing its total number of sites under the brand to 16.
The group also launched two new concepts: immersive cocktail bar concept Somewhere by Nico, which now has sites in Glasgow in Edinburgh; and higher-end fish restaurant Sole Club, which opened its first site in Glasgow in March last year.
Sixco said it is exploring the development of both brands, however, Sole Club has subsequently closed with the site set to be relaunched as Extra_Ordinary, a pan-Asian restaurant concept developed by Australian chef Tobias Fiegel and Sixco founder Nico Simeone.
Additionally, the group overhauled its offering at Somewhere by Nico in October last year after admitting that the proposition had become ‘unclear’.
The group also exited two non-core brands based in Glasgow in 2024: steakhouse concept Chateau-X, and artisan café Valaria.
It is understood that both businesses continue to operate separately under new ownership.
Simeone launched the first Six by Nico in Finnieston, Glasgow in 2017.
The concept revolves around a six-course tasting menu that changes every six weeks and is themed around different places, memories and ideas.
Six by Nico will open in Bristol in early February at Quakers Friars.
Simeone said: “We’re absolutely thrilled to be opening our first Six by Nico restaurant in the heart of Bristol.
“This vibrant and bustling city has a unique energy that we believe will challenge our creativity and inspire us to push new boundaries.
“We’re excited to be part of the local dining scene and to share our passion for innovative, high-quality food with the people of Bristol.”
