Sukho Group, the multibrand Thai restaurant group comprising Zaap Thai and Sukho Thai, has reported £13.5m in sales for the year ended March 2022, up from £5.5m the previous year.
Sales have risen by 31% from 10.4m in the year ending March 2020, the last full year of comparative trade.
Group EBITDA has increased from £1.1m to £3.2m, showing strong post-Covid recovery, according to the group.
Sukho Group has further reported it has repaid in full the term loan taken out at the time of its MBO in 2019, one year ahead of schedule.
During the year, the group rebranded one of its Sukho Thai sites based in Leeds to a Zaap Thai site, resulting in takings 2.5 times higher than before.
In the current financial year, it has opened its sixth Zaap Thai site in Sheffield, which has exceeded initial expectations, according to the group.
It expects to open two new sites in Q1-Q2 this year in “two major Northern target cities.”
Group MD Gerrard Marks commented: “Following a very difficult period we’ve bounced back with our strongest ever sales year and a significant increase to our EBITDA. We’ve recently opened our ninth site Zaap Sheffield, creating over 20 new jobs with trade currently exceeding expectations. We’ve also been focusing on improving our existing sites infrastructures and investing in strengthening our teams.
“We’re extremely optimistic about our future with potentially 2 more sites lined up for early 2023, however we’re under no illusion the next few months will be difficult for our industry and we’re more focused than ever to keep offering fantastic food and service to our guests and creating a memorable experience every time.”
