Savor’s revenue declined 6.5 per cent year over year to $26.7 million in the half year ended September 30.

Operating earnings plunged 15.7 per cent to $2.5 million due to the closure of Non Solo Pizza for renovations and the Seafarers business.

Savor’s portfolio includes Amano, Amano Bakery, Azabu Mission Bay, Azabu Ponsonby, Bang Bang, Bar Non Solo, Bivacco, Ebisu, Lobster & Tap, Market Gallery, MoVida, Non Solo Pizza, Ortolana, The Store, and The Wreck.

Moving forward, the company expects bottom line results to improve with employee costs for the period being about $1.7 million less than the year-ago period and the bulk of the trading to come over the summer months.

The company also anticipates to vastly simplify its overhead structure, resulting in further cost savings.

Savor is expanding its Amano brand into an Amano Deli and will add Japanese Izakaya restaurant bar to the group, both of which are set to open in spring 2025.

Moreover, Savor has reached a deal to develop a new leisure and entertainment offering, and if it performs as expected, it will be part of the group’s national roll-out strategy.

The company noted that October and November trading has continued to demonstrate market recovery.