Chopstix suffers £963k loss for 2024 financial year
The group reported a £4.49m for exceptional costs.
Pan-Asian restaurant chain Chopstix reported a £963k loss for the financial period ending 31 December 2024.
Gross profit dropped from £37.87m for FY2024, a 23.29% decrease from £49.37m a year before. Adjusted EBITDA was £6.98m in FY2024.
The group reported an adjustment of £4.49m for exceptional costs, which includes costs incurred for the acquisition of 51% shareholding by QSRP UK Limited, utility contracts that are considered onerous as compared to current market rates, exceptional payroll costs, pre-opening site costs and costs relating to closed sites
Chopstix said the UK foodservice environment “remains challenging” amidst the continuing impact of the Russia-Ukraine conflict, other global events and, domestically, “considerable” inflation in labour costs driven by National Insurance policy changes.
The company also noted that the current year’s figures cover only 35 weeks, compared with 53 weeks a year earlier, making direct comparisons difficult.
On a pro-rated basis, however, Chopstix said group revenue grew 13% year on year, supported by delivery expansion, in-store digital innovation, extended meal deals, enhanced social platforms and product innovations.
