Megan’s reports earnings of £4.1m in 2022
The growth was supported by the opening of five restaurants during the financial year.
Megan’s has reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increase to £4.1m for the year ending 31 March 2022 compared to £1.7m in 2021.
Megan’s has increased in annual turnover by 193% to £22.7m. The group also reported an operating margin of 17.8%.
The restaurant brand said this growth has been supported by the successful opening of five new sites during the financial year and the benefit of a return to regular trading periods following COVID-19 lockdowns.
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Meanwhile, Megan’s is set to open its 20th site in Guildford in April, with several CAPEX projects down the line.
“The business continues to grow at an impressive pace and we’re on track to deliver further sales growth of 70% in the year to come. We have proven our success across the suburbs of London and our focus now shifts towards those areas beyond, particularly the home counties. Our current three ‘out of London’ sites are significantly exceeding expectations, and we have a strong pipeline of over 10 locations to continue our expansion in this key market.” Gill Clements, Finance Director at Megan’s said.
