Wagamama Posts Strong Results
Turnover for the chain increased by 17.9%, as it finishes the financial year (for 52 weeks, ending 26 April 2015).
David Campbell, CEO of wagamama, said, “I’m delighted to report these strong results. The whole team has been working tirelessly to ensure our brand and UK-wide expansion plan is a great success, with a flagship restaurant on Great Marlborough Street in London opened already this financial year.”
“Exciting things have been happening for wagamama; such as welcoming Allan Leighton to the company as chairman, opening the doors to a stunning new Gatwick restaurant, launching an industry leading payment app in the form or qkr! by masterpass and being first to market with Apple pay,” he said.
“The next financial year will see us introducing wagamama to a series of new, key locations and an exciting programme of customer innovations.”
The results delivered a 10% growth on a like-for-like basis, and increased EBITDA by 19.8%, resulting in an adjusted EBITDA of £30.3m for the brand.
The results are released amidst the rollout of an extensive UK-wide expansion and refresh plan, which will see around 45 new restaurants and 50 refurbishments take place across the UK in the next 3 years.
Currently the group operates 150 sites in 15 countries worldwide. Alongside UK plans, international franchise openings are being rolled out across Europe and the Middle East.
The results also come as Allan Leighton joins the restaurant group as Chairman.
