Friska, the YFM Equity Partners-backed group has made a loss in the full year to 30 September 2018, of £799.8k (2017: -£487.4k).
The business, which is due to open its 11th café later this month, in the former Caffe Gusto site by Bristol’s Queen Square, said that since the fund raise in July 2017, there had been additional cash outflows, as expected, to support the development of the business. These included an increase in central overheads and associated costs of opening new stores.
It said that including one off pre-opening costs, losses from the new stores accounted for £235,565 of the total loss for the year. Friska said the balance sheet remained strong, and it had a healthy cash position of £1.57m at the year end.