Wasabi reports EBITDA of £8 million
The sushi and bento chain reported that turnover grew 21% to £63,593,000 in the year to 27 December 2014.
Dong Hyun Kim, Wasabi’s chief executive and founder, said, “As our company continues to grow from strength to strength, we wanted to move into a larger premises that was in the prime location of Park Royal. Its connection to the heart of London was vital for Wasabi as it is where the main concentration of our outlets are.”
The company stated: “Pro-rated Ebitda grew by 208% to £8,079,000, driven by a reduction in exceptional costs and lower one-off costs from opening fewer branches than in the previous year.”
“Pro-rated operating profits grew by 1066% to £5,223,000, improving operating margin to 8%.”
“The company’s innovative and fresh approach to food has helped establish a strong and reputable brand that continues to grow in popularity. With the introduction of a new Central Production Unit in 2016 and a significant increase to our capacity, we are well-placed for strong, profitable growth,” it said.
