The Ivy Collection's operator grows sales to £348m and trims labour to 38% of revenue

Troia UK Restaurants, chaired by Richard Caring and the company behind The Ivy Collection, grew both sales and profit in the 52 weeks to 4 January 2026, Restaurant Online reports from its latest accounts.

The numbers - Revenue: £348.0m, up 5.6% from £327.1m - Adjusted EBITDA: £65.9m, up 6.5% from £61.9m - Gross margin: up a point to 80% - Labour: down from 40% to 38% of sales - Pre-tax profit: £40.0m, from £23.2m

The labour line is the one most operators will look at. The group faced the same rises in employer National Insurance and the National Minimum Wage as everyone else, and says it got labour down by controlling staffing levels while protecting service. New openings and refurbishments carried on through the year, mostly paid for out of operating profit.

The balance sheet has been strengthened as well. The revolving credit facility rose to £50m, taking total available funding to £325m alongside a £275m term loan. After the year end, a controlling interest in the group was agreed for sale to DIAFA, an Abu Dhabi investor in luxury and hospitality businesses.

For the next 12 months the company points to more sites, continued brand development and a focus on service.

What it means for operators: two points off labour in a year of statutory cost rises is a strong result at this scale. It's worth asking your own finance and ops leads what the equivalent lever would be in your estate, and what it would cost in service if you pulled it.