Wagamama FY lfls up 7.4%

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Wagamama grew like-for-like sales (lfls) in the UK by 7.4% in the year to 29 April, with lfls up 7.7% in the final quarter.

The group reported it outperformed its peers by 10.3% in Q4, capping 220 weeks of trading ahead of the competition.

Over the 12 months group turnover increased 13% to £300.6m, with adjusted EBITDA up 0.4% to £45.7m.

The company-managed estate grew by nine during the year, comprising seven new restaurants in the UK (St Peters Manchester, Bedford, Leeds, White Rose, Cheltenham, Bracknell, Reigate and Colchester) as well as two in America (Boston Seaport and East Village, New York). There were 13 new franchise restaurants opened - Madrid (four restaurants), Bergamo, Jeddah, Doha, Qurum, Malpensa, Dubai Mall, Parndorf, Utrecht and Larnaca.

There were also 31 refurbishments carried out across the estate throughout the year.

Chief executive Jane Holbrook said: “We’ve continued to perform really strongly in the year with 7.4% UK like for like sales growth.

“This strong trading performance allows us to invest further in innovation to strengthen our brand and differentiate ourselves over the longer term.

“Wagamama’s continued success is really down to all of the amazing people that work in the business and I’d like to thank them for their passion and commitment to the Wagamama family.”

Holbrook told MCA that the group was planning a further six new restaurants in the UK, two in New York and a significant number of new franchises in the coming year.

She added that sales momentum had continued strongly into the first quarter of the year and that there were some pleasing uplifts in sales from the refurbs carried out, especially the extension to the Royal Festival Hall.

 

 

 

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