City District Ltd, the company behind Brazilian rotisserie and steak house chain Fazenda has seen turnover rise 48% and pre-tax profits grow 140% in the year to 31 March.
The group opens its fourth site in Cloth Hall Street in Leeds next week – the first outside its eponymous brand. MCA understands it is also readying the launch of a third, Picanha, in Chester.
The financial report stresses the directors’ intentions to develop new brands that can deliver Fazenda’s Brazilian Gaucho-inspired format on “a more economical budget”.
The report shows that turnover for the year grew to £9.7m with pre-tax profits up to £1.8m.
Fazenda currently operates three sites in Leeds, Manchester and Liverpool.
Last year, founder Tomas Maunier told MCA that the group is looking across the country including Birmingham, Glasgow, Edinburgh, London and Bristol for its next location.
The core concept serves 15 different cuts of beef, chicken, lamb and pork alongside a salad bar with sushi, smoked salmon, cured meats, hot dishes and traditional Brazilian dishes.