itsu revenues up by 21.8% in 2015
The healthy Asian food chain reported the financial results in the 12 months to December 2015, according to figures to be released this week to Companies House. Now with 69 shops across the UK including recent openings in Leeds and Kingston, itsu grew revenues by 21.8% in 2015 compared to 20.8% in the previous year.
Total revenue grew to a record £82,647,288 (2014 - £67,869,415) while EBITDA rose to £7,331,883 (2014 - £6,841,726). The directors attribute this increase to a successful expansion in the number of shops - 10 during 2015 - and strong like-for-like sales growth.
Profits for the financial year fell to £434,150 (2014 - £1,609,918), as a result of investment in new shops, international expansion, new channel development and IT in shops.
Shop expansion included two new flagship shops in Westfield, White City and Bicester Village plus itsu’s first travel hubs at Stansted Airport and Euston station, offering itsu’s “eat beautiful” menu.
Founder Julian Metcalfe said: “2015 was another very strong year for itsu and that’s down to the incredible hard work of everyone in our expanding family. We can be proud in every area of the business. Our shops have the highest hygiene ratings against our peers and that’s due to meticulous recruitment and training. Our customer service and food quality is second to none and we’re seeing more customers than ever before, both in London and the regions. We were also awarded “Best Concept” at the Retailers’ Retailer Awards in March. All fantastic achievements.”
The directors said they are confident of a strong 2016 with more London and regional openings planned plus a return to Heathrow Terminal 5 in late summer.
