FRIDAYS restaurants owner Hostmore has reported revenue standing at £159m as the hospitality operator strikes out on its own after a demerger.

Hostmore made its debut on the London Stock Exchange last November after it was made a separate entity from Electra Private Equity.

Now, in results for the year ended 2 January 2022, the operator has reported revenue up on the prior year's figure of £129.1m, when the sector was hammered by Covid restrictions.

Shares were down more than 10 per cent in late trading yesterday evening.

Robert B Cook, Hostmore chief executive officer, said fresh challenges loomed, as inflation soared and Brits worried about the cost of living rising.

Cook said that Hostmore would "no doubt face new macro-economic challenges as we proceed this year, together with the challenges raised by the Ukraine crisis."

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