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MOD Pizza UK reports £11.1 million loss
The pizza chain promises to improve the performance of their five existing stores.
MOD Pizza in the UK has reported that they saw an £11.1 million loss for the year ending December 31, 2017 as compared to their £5.0 million loss last 2016.
The loss is said to be mainly driven by the cost of the support team, impairment charges and other costs involved with closing an outlet during the period.
The chain also reported that their like-for-like revenue grew to 28%.
“The company will seek to drive performance of its five existing restaurants in the coming year as well as rolling the concept out further with up to 4 opening planned in 2018 and the intention to build a significant pipeline for the future years,” MOD Pizza said in their report.
