Papa John’s (GB) has revealed a 19.6% increase in turnover from £42.2m in 2014 to £50.5m up to December 2015.
The UK business of the US pizza delivery giant also revealed profit before tax of £3.9m - up from £2.2m in 2014, according to financial results released yesterday.
As of December 2015 the company operated 319 Papa John’s outlets in the UK - up from 282 in 2014 – which are all operated by franchisees.
Turnover has increased through a combination of store growth and increased like for like sales, Gareth Davies, vice president, UK & Ireland wrote.
He said a major risk facing the company was the economic uncertainty over the impact of the UK leaving the EU.
With most ingredients sourced from outside the UK an increase in prices to UK customers was inevitable, he said, but so far there had been no material effect on business profitability.
Papa John’s (GB) was seeing a growth in online sales and advertised in the national media for the first time in 2015, increasing the brand’s profile in the UK.
Following a period of sustained and forecasted profits, the company recognised a deferred tax asset of £1.2m (2014 - £2m which contributed to the increased profits in 2014.).
Davies wrote: “For the tenth consecutive year underlying comparable sales of our UK delivery company outlets grew.
“The pizza market does however remain intensely completive with significant promotional discounting continuing to take place in 2015 as in prior years.”
Papa John’s reported that it is now the third largest pizza delivery business in the UK.
Of its total turnover, £1m came from Ireland operations.
