Following PizzaHut’s recent financial results, Jens Hofma, Managing Director, Pizza Hut Restaurants has commented on Pizza Hut’s business performance for last year – and the implementation of its targeted strategy for growth:
EBITDA up to £11.3 million
“The Pizza Hut Restaurants business shows an improved performance for a second consecutive year, recording an operating profit of £1.7 million for 2013 – an increase of £6.4 million year on year, and an increase of £18 million since 2011. As a result, EBITDA generated for the year was £11.3 million.
150 restaurants to be transformed by end 2015
“We plan to build on this significant achievement as we complete a major transformation of more than sixty restaurants by the end of 2014, and a further ninety by the end of 2015, part of the largest-ever investment programme in the UK into our estate.
“The opening of our newly redesigned Trafford Centre flagship, based on a refreshed concept, is the latest milestone in an ambitious schedule. Those restaurants already remodelled are performing ahead of expectation, with the first, in Crawley at the end of last year, opening with 40% uplift which has been maintained over the past 6 months.
Enhanced customer experience delivers guests and revenue
“The refurbishments are a key component of a targeted strategy for growth focused on an enhanced customer experience. This includes the roll out of a new menu, new restaurant staff uniforms, investment in our customer service strategy, and upgrades to our restaurant IT infrastructure.”
“It is an approach which we have seen contribute to greater guest numbers and spend in Pizza Hut Restaurants over the past seven months – success that indicates the direction we are taking is the right one for continued growth.
Cash-rich status fuels accelerated trajectory for growth
“We are a cash-rich business with a very healthy balance sheet and the financial means to take this reimaging programme to the next level, forging onwards and upwards past our competitors. Our trajectory for growth will increase as we continue to demonstrate our credentials as the leading brand in the UK casual dining sector.”
“The sustained improvement of our business performance is indicative of the confidence we have placed in our business strategy. As we commence the re-imaging programme for our restaurants, our cash rich, debt-free financial status means we can accelerate the process over the coming year which will not only maintain our trajectory for growth, but also continue to demonstrate our credentials as the
leading brand in the UK casual dining sector.”