Savor Limited is the listed entity of Savor Group. Established in 2011, Savor Group is one of New Zealand’s largest hospitality businesses with 13 iconic venues in Auckland, including Azabu Ponsonby, Azabu Mission Bay, Ebisu and Non Solo Pizza, each with its own unique concept, culture and offering. Savor has a reputation for originality, the quality of its products and the high standard of service that is consistent across the company portfolio.
Savor Limited (formerly Moa Group Limited) was formed at the NZX listing of the Moa Brewing Company Limited in 2012. Savor Limited acquired the operations of Savor Group in 2019 in order to obtain size and scale in the hospitality industry. Moa Brewing Company Limited was sold in February 2021 to independent interests
The following information was extracted from Savor Limited's half year results, released 22 May 2024:
Savor Limited (NZX: SVR) (“Savor”, “the Company”, or with its subsidiaries “the Group”), New Zealand’s premier hospitality group, presents its results for the financial year ended 31 March 2024.
Highlights:
The Group’s cost base has been rationalised even further with many of the venue level decision making being driven out of head office which allowed for further margin expansion while holding prices static for our customers for over a year now.
Delivering a positive net profit before tax also means that Savor is able to utilise the significant historical tax losses accumulated, resulting in further cash flow benefits going forward.
The Group finished the year with a total leverage ratio of less than one to one, ensuring maximum flexibility heading into the uncertain winter trading period, building resilience and contingency into the Group’s funding structure. This has continued into the new financial year with the refinancing of the Group’s banking arrangements with ANZ, allowing for better access to funds.
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