Savor opens hero Viaduct venue, announces half year results

Savor Limited (NZX: SVR) opened its 18th venue, Bivacco, in Auckland's Viaduct Harbour, and announced strong trading figures and half year results.

Bivacco recorded $250,000 in revenue in its first week of trading and MoVida, opened in August, has exceeded budget by over $100,000 per month.

The Group achieved EBITDA of $1.4m and strengthened its balance sheet by paying down $2.5m of third party debt.

Labour shortages and capacity constraints have been alleviated with the arrival of 60 international recruitment.

The Group is looking forward to the busy summer trading period and expects to provide an update in February 2023.