Giggling Squid’s growth strategy aims to “fill the gaps” in its presence across the UK, with the aim of maintaining consistent growth, MD Andy Laurillard tells MCA.
Last week, the restaurant chain reported it has had its most profitable year since inception, with a turnover of £65.9m for the year to April 2022 – up 94.4% on 2021 levels.
“Every year has been the most profitable since inception,” Laurillard says. “It’s about growing consistently over time and opening on a continuous basis.
“We benefited from lower VAT rates for the period, but also a keen customer.”
More recently, the business had its strongest week of trading between Christmas and New Year in December 2022. Sites outside London have benefited significantly in past months due to rail strikes.
“The biggest challenge is probably still staffing, although we’re not dealing with extreme volatility.”
Giggling Squid’s growth plans have “no geographical focus” and are more about filling the gaps in its portfolio, according to Laurillard.
“We’re still trading way way ahead of pre-Covid…it’s about making sure customers are happy and focusing on operational standards in a challenging environment.”
