Japanese inspired restaurant group wagamama delivered a strong financial year (for the 52 weeks, ending 26 April 2015). The group has now been trading ahead of competition for 60 consecutive weeks and is well placed for continued growth both in the UK and internationally.
The results are released amidst the rollout of an extensive UK-wide expansion and refresh plan, which will see around 45 new restaurants and 50 refurbishments take place across the UK in the next 3 years. Currently the group operates 150 sites in 15 countries worldwide. Alongside UK plans, international franchise openings are being rolled out across Europe and the Middle East.
Financial highlights:
- Turnover increased by 17.9%, drawing in £193.3m in comparison with £164.0m in FY 2014
- The results deliver a 10% growth on a like-for-like basis, with wagamama significantly outperforming in this competitive market
- Sales momentum and margin enhancement initiatives improved underlying EBITDA by 19.8%, resulting in an adjusted EBITDA of £30.3m for the brand
The results come as Allan Leighton joins the restaurant group as Chairman, bringing another dimension of expertise to the board at an important time for the brand. Having been described as one of the most connected businessmen in the world, Leighton brings vast international expertise from the retail industry to his role at wagamama.
Exciting things have been happening…
David Campbell, CEO of wagamama, said:
“I’m delighted to report these strong results. The whole team has been working tirelessly to ensure our brand and UK-wide expansion plan is a great success, with a flagship restaurant on Great Marlborough Street in London opened already this financial year.
“Exciting things have been happening for wagamama; such as welcoming Allan Leighton to the company as chairman, opening the doors to a stunning new Gatwick restaurant, launching an industry leading payment app in the form or qkr! by masterpass, and being first to market with Apple pay.
“The next financial year will see us introducing wagamama to a series of new, key locations and an exciting programme of customer innovations.”
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