Itsu posts £6.78m net loss in 2024
Adjusted EBITDA slipped to £3.9m.
Itsu reported a deeper net loss of £6.78m in 2024, compared with £5.13m the previous year.
Full-year turnover was £120.3m, whilst gross profit was £81.46m, up from £77.51m.
The company said that Itsu's focus in 2024 was on attracting more customers, affordability in the menu, and continuous improvements to customer experience in the shop, which drove customer growth.
App transactions grew substantially during the year, supported by a revamped loyalty scheme, whilst cheaper product options were introduced to keep customers coming despite cost-of-living pressures.
However, administrative and general expenses amounted to £86.42m.
Gross margin rose slightly, by 0.9% year-on-year, but adjusted EBITDA slipped to £3.9m from £5.39m.
