Shake Shack UK operator losses widen to £4.6m in FY22
Gross profit for the food company amounted to £29m, which has decreased from 69.9% to 67.7% compared to £24m in 2021
Diverse Dining, the operator behind Shake Shack UK, has reported its full-year losses widened to £4.6m for the year ended in December 2022, despite welcoming a sales increase from £34.8m to £44.2m.
The food operator said that sales increased throughout the period, despite the closing of certain delivery kitchens and the group’s sale of P F Chang’s branch to the Pizza Hut Franchise.
Gross profit for the food company amounted to £29m, which has decreased from 69.9% to 67.7% compared to £24m in 2021.
Staff costs increased throughout the year amounting to £14m compared to £9m the previous year.
In 2022 and during the first half of 2023, trading has started to recalibrate after the pandemic and the company has said to be actively looking for further sites. One new site opened in January 2023, and three new ones are scheduled to open later this year.
In the official financial statement, the directors “are satisfied with the company’s growth in 2022 considering the challenges within the market and are confident in the future growth of the company.”
