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Wagamama experiences 9% UK like for like sales growth
07/03/2017 - 07:03
UK like for like sales grew by 9% for restaurant chain wagamama in the third quarter and turnover increased 13.8% to £61 million.
Written by Andrew McClean
In the company’s third quarter report, adjusted EBITDA is up 11.4% to £11.7 million, up from £10.5 million in quarter three 2015/16. Growth is attributed to the number of restaurants in operation by the end of the third quarter, which stands at 127, up from 123 at the end of quarter three 2015/16.
Wagamama opened one new UK restaurant in quarter three on Dean Street in London as well as opening a new franchise restaurant in Dundonald, Northern Ireland.
In the year to date, turnover has increased 15.7% to £202.2 million and adjusted EBITDA is up 15.6% to £34.8 million. Full year results are expected in April.