Savor has reported a 6.5% decrease in revenue for the first half of the 2024 financial year, reaching $25 million.
The decline was attributed to the closure of Non Solo Pizza for renovations and the Seafarers business.
However, when adjusting for the impact of these events, the company said the result was "pleasing" given the challenging market conditions.
Operating earnings, after adjustment, were down 15.7% to $2.5m.
Savor recorded an adjusted net loss after tax of $400,000, compared to a loss of $200,000 in the prior period.
The group said its variable cost base continued to improve proportionally to revenue, with employee costs being $1.7m lower than the same period last year.
Savor also announced the progression of two new sites, expanding the Amano brand and bringing a Japanese izakaya restaurant bar to the group.
These venues are expected to open in spring 2025.
Additionally, the company has reached an agreement to develop a new leisure and entertainment offering, with potential for national roll-out.
Trading for October and November showed a recovery in the market, with strong customer demand during the summer season.
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