Carluccio's Reports Turnover Growth of 7.4%
The Italian restaurant group with operations in the UK, Ireland, US, Middle East and Turkey announced its financial results for the year ending September 2015.
The group opened 14 stores in the UK, Ireland, USA and continued its expansion in Dubai and Turkey under franchise. At the year end, the group operated from 112 worldwide locations.
UK turnover increased by 7.4% to £137.8m (2014: £128.3m). Meanwhile, the group said that it is highly cash generative with EBITDA before non-cash
exceptional expenses increasing 7.2% to £15.3m (2014: £14.3m).
Eight new UK restaurants opened in the year and six internationally (four franchised and two company-owned).
Trading has continued ahead of prior year since the start of the new financial year with the opening of four further UK stores before the end of April 2016 and a secure pipeline to deliver a further six openings before the year end.
Commenting, Neil Wickers, CEO said: “Carluccio’s has shown good growth in turnover and EBITDA. It’s been an incredibly exciting start to 2016 with the opening of a second location in the States, the launch in the UK of our new ‘grab and go’ Via Carluccio’s concept and, most recently, our first ‘new generation’ store. I am confident that these will perform well and we will continue to meet our key objectives of delivering growth and brand development”.
