Abokado Sales Surge 33%

The brand announced that for the year ended 31 March 2015, sales grew 33%.

Gross profit also increased 45% and adjusted EBITDA doubled.

Mark Lilley, founder, said ‘We had another strong year and are pleased with the company’s performance across our financial and non-financial KPIs. Our Net Promoter Score hit a record 73%.’

‘Trading since the year end has remained strong, with continued positive LFLs and an increase in store and company EBITDA. We’ve opened two new stores and the leases on further stores have been signed or are under offer. We also created the position of Operations Director and welcomed Richard Zivkovic, previously of Pret A Manger, Costa and Be At One to the management team and Board.’

‘We’re also pleased to announce that in July 2015 the company secured £2.6m of funding from RBS. This gives us the fire power to accelerate our growth over the coming years. Our vision remains to help people live happier and healthier lives by making our Feel Great Food as accessible as possible.’

Turnover increased to £10.8m from £8.1m, the gross profit margin increased to 39% from 35% and adjusted EBITDA was approximately £600k, representing a 100% jump on the previous year.

The company said that its sales growth was driven by continued positive like for like sales, the maturing of the company’s more recent store openings and the addition of three new stores.