Pho, the the Isis Equity Partners-backed Vietnamese fast-casual concept led by Stephen and Juliette Wall, has reported an 11% increase in EBITDA for the year to the 24 February, as turnover climbed 26% to £8.2m.
The eight-strong group, which recently secured its third site outside London, saw like-for-like sales across its existing estate increase by 5% during the period in which it open one further site.
Stephen Wall told M&C Report the the company has had a “robust year to date with very strong trade at our high street sites in particular compensating for the heat wave knocking sales a little at our two Westfield-based sites”.
The group, which is set to open in Trinity Leeds next month, said that gross profit margin remained strong at 76%, while pre-tax profit fell slighty down from £585.3k to £513k.
The company said that it had performed “well against an adverse economic backdrop and a decline in consumer confidence”.
It recently secured a unit at the Birmingham’s Grand Central shopping centre, with an opening scheduled for next year.
It is thought that the group is also very close to securing a further site in West London.
The group, which is chaired by ex-Wagamama chief executive Steve Hill, hopes to grow its estate to up to 25 sites over the next four years.
