Nightcap PLC on Thursday said that Chief Financial Officer Toby Rolph is stepping down as CFO and as director.
The London-based owner of Cocktail Club, Adventure Bar and Barrio Familia chains said Rolph has been involved with the company since its initial public offering three years ago. He is replaced by Richard Haley on an interim basis in a non-board capacity. Haley has held the role of deputy CFO as Delinian Ltd, a company focused on specialised global businesses, formerly Euromoney Institutional Investor.
Chief Executive Officer Sarah Willingham said Interim CFO Haley ‘brings significant in-depth experience from larger consumer facing businesses.’
Last week Thursday, the company said that it swung to a pretax loss of £4.9 million in the financial year ended July 2, from a profit of £238,000 a year prior. This was despite a revenue climb of 29% to £46.4 million from £35.9 million, which was outpaced by an increase in costs, in particular administrative.
Nightcap shares fell 8.3% to 5.50 pence each on Thursday late morning in London.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
