MOD Pizza ends 2018 with £6.9m loss
The chain wants to open seven more sites this year.
MOD Pizza ended 2018 with a £6.9m loss compared to 2017's 1£1m, citing spending on their support team, marketing, and pre-opening and depreciation costs.
According to their annual report for the period ended 30 December 2018, the pizza chain had a turnover of £5.3m compared to £3.6m in the previous period.
Four restaurants opened in 2018, with MOD ending the year with nine restaurants in operation.
"Average sales per restaurant have increased significantly since we opened our first site and like-for-like revenue growth was 10% for the period," it said in the report.
MOD observed that city centre and leisure park sites were "significantly outperfoming" their other stores, making it a focus for the brand.
The pizza chain is targeting to open seven sites this year.
