Wagamama ends Q1 with turnover increase of £97.4 million
The chain has opened more stores in the UK, Oslo, Milan, UAE and Qatar during the period.
Wagamama’s first quarter ended August 19 with an overall turnover growth of 12.3% to £97.4 million from £86.7 million of the last period’s Q1, according to their financial report.
Turnover in the UK also saw a 12.3% increase to £93.2 million from £83.0 million the same period last year, while their US business went from £2.9 million to £3.2 million. Other international franchise grew 25% from £0.8 million to £1.0 million.
Overall like-for-like sales growth for the period also rose to 8.5%. Their cash balance is now at £23.4 million compared to the last period’s £31.6 million.
“They have continued to deliver outstanding UK like for likes and I’m delighted to say we’ve also achieved our highest customer net promoter score and lowest team turnover on top of good profit growth,” Jane Holbrook, CEO of Wagamama said.
(Photo credit: wagamama Facebook)
