Published:
Salmon Price Eats in to Wasabi Profits
It claimed a strong position to accomplish future expansion within the UK and overseas.
Six new store openings, including a second international branch in New York, took the brand from 49 to 55 restaurants, which contributed to the group’s 21.5% turnover increase and 8.1% like-for-like growth.
Turnover increased by £17.4 million from £80.7m in 2015 to £98.1m in 2016, while gross profit increased by £5m to £35 million. Earnings before interest, tax, depreciation and amortization (EBITDA) however, decreased to £4.7 million compared to £5.4 million in 2015- largely to due the rising cost of salmon.
