Gusto serves up a rise in sales and profits

Gusto has revealed a £0.1m rise in sales for the year ending 31 March 2019, which it hailed as a “very good performance” in a pressurised market.

Pre-tax profits also rose to £138k following a loss of £544k the previous year.

It said the business had been “galvanised” following “heavy investment in brand, menu development, food quality and provenance, as well as improved team training, tight operational controls and the continued development of out of restaurant sales”.

It added that guest satisfaction scores were on the rise while several “very effective people initiatives” had also “significantly” improved staff engagement.

“We’re one year into our three year strategic plan and it’s encouraging to see the new foundations beginning to take hold, and empowering the business to meet the well-known challenges faced by the wider casual dining market,” said MD Matt Snell.

“Trading in the year to March 2019 has been positive with total sales increasing to £32.4m, and, despite the well-documented increased cost pressures the industry continues to face, EBITDA has been maintained at £2.3m, and operating profit is significantly up on the prior year.

“Although challenging market conditions look likely to continue the company remains committed to the strategic imperative of growth. We expect to resume our site roll out programme during the current financial year and are already in discussions on several potential new sites.”