Five Guys has secured a new £100m banking facility through Goldman Sachs as it seeks further growth across the UK and Europe.

The facility will be principally used to drive UK expansion, as well as paying off existing bank debt of £35m and reducing shareholder debt by £25m.

The US better burger brand’s European arms will continue to be funded by shareholder facilities, although they will be allowed to access the bank funding when they become profitable.

Documents issued to Companies House also showed UK turnover up 42% to £122m in the year to 31 December 2017, with like-for-like sales in the period growing 2.3%. EBITDA was up 60% to £18.9m with net losses increasing to £19.9m from £13.3m last year.

During the period, the company opened 29 stores – 20 in the UK and nine in Europe, which took the estate to 79 in Britain and 91 across the entire group. The group created 868 jobs in the UK during 2017.

During the year, the group paid out £2.3m in staff incentives, after achieving 91% in average mystery shopper scores across the year.

Presenting the accounts, the directors said: “The directors continue to believe there are strong growth prospects in the premium burger market and intend to continue the rapid roll-out of Five Guys in the UK and mainland Europe. The group continued its rapid expansion in the UK, France and Spain and also opened the first stores in Germany.

They added: “The company successfully partnered with Deliveroo in 2017, allowing customers to order Five Guys from the comfort of their homes. The majority of the UK stores are now offering delivery. In 2018 we will be rolling it out in France and Spain. The company delivered a strong 2017 and we are confident of our growth plans going forward both in the UK and the EU. Our plans for 2018 call for the most new store openings in our five-year history.”