Pho, the Vietnamese restaurant group founded by Stephen and Juliette Wall, is set to break the £30m-sales mark in its current financial year, driven by good like-for-like sales growth, MCA understands.
The 25-strong company, which is led by managing director Mark Smith, saw turnover for the year to 27 February 2017 climb 33.7% to £25.9m, with group EBITDA up from £2m to £2.5m.
The group, which has lined up an opening in Guildford for 2018, saw like-for-like sales increase by 6.9% in its last financial year.
Founder Stephen Wall told MCA: “We’re continuing to see good LFL growth and have opened a number of successful regional sites since February, most recently Oxford. We’re on track to make over £30m this year in sales. We’re continuing to invest in the head office with Mark Smith having moved into the managing director role earlier this year and the recent appointment of Patrick Marrinan as the company’s finance director.”
Marrinan left leading business advisory firm AlixPartners to join Pho last month.
In his new role, he will work closely with the 25-strong group’s former finance director Smith, who was promoted to managing director of the business earlier this year.
Pho, which is backed by Livingbridge and chaired by Steve Hill, has strengthened its regional presence over the last few months with openings in Leicester, Reading and most recently, at the Westgate scheme in Oxford.