Tossed, the healthy food-to-go operator, saw turnover grow 14.2% to just over £10m in the year to 31 March 2017.
Normalised EBITDA for the period fell from £447,000 to £398,000, which the company said was a result of increased investment in its people and cost inflationary pressures.
The group completed a refinancing of its banking facilities with Santander in April 2016, which saw existing debts repaid and new facilities totally £1.8m secured, which it said would support ongoing expansion.
The 17-strong group opened one site and closed another during the year. Its estate now comprises 13 high street stores in London, of which 12 had been converted to its cashless model by the end of the period and four island units in food courts.
During the year Tossed’s franchise partners in Dubai – Vivanta General Trading LLC – opened two ore stores, taking its count to three. Welcome Break currently operates five Tossed stores.
In his report on the financial year, finance director Neil Sebba wrote: “While healthy eating in the UK is still relatively underdeveloped in the mainstream consumer market, particularly when compared to the USA, it is regularly identified as a growing area of interest in the trade press and analysis. The commercial team review our product range regularly against the competition to ensure that we balance being current and on-trend against remaining mainstream enough to appeal to the general public. Long-term trends in consumer tastes should support the offering that we provide, being a quality healthier eating alternative to mainstream fast-food.”
