Restaurants

YO! operator hails ‘record’ FY21 revenues of £197.3m

Additionally, the first seven months FY22 have seen sales growth of 60% year-on-year, taking revenues to £182.7m

The Snowfox Group, the operator of YO! Sushi, has announced that it delivered “record” sales of £197.3m for the 52-week period ended 28 November 2021, driven by growth across the group’s restaurants, kiosks, and commissaries.

Adjusted EBITDA for the multi-channel and international Japanese food business also doubled from £17.1m to £34.4m, surpassing the performance recorded in any prior year.

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Additionally, for the first seven months ended 30 June 2022 (FY22), the group delivered sales growth of 60% year-on-year, taking revenues to £182.7m. Snowfox said it remains on track for a further uplift in FY22 EBITDA profits.

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In Retail Kiosks, the group’s franchised kiosks in US and Canada recorded like-for-like sales growth of 33%, and like-for-like sales for its group-owned corporate kiosks in the UK and Canada increased 25%.

During the year, Snowfox Group achieved a net opening of 381 sushi kiosks, taking the total number operated to c.2,200.

So far, 124 further Sushi Kiosks have opened in FY22, supported by the rollout of 76 sites with Tesco and Asda in the UK. 

The group has also opened an additional commissary location in Los Angeles and expanded its existing UK commissary to meet “increased demand” from existing and new customers.

In its restaurant businesses, one new site has opened in the UK year-to-date, with another scheduled to open in FY22, and further selected openings remain under consideration.

Richard Hodgson, Snowfox Group CEO, said: “We are encouraged to have achieved considerable sales growth of 60% in the first 7 months of the new financial year. Looking ahead, I am confident in the future growth opportunities for the group – across kiosks, pre-packaged and restaurants.

“We are a clear leader within a large and growing market, and we are ideally-placed to respond to those prevailing consumer trends which are driving the appeal of sushi – namely health, convenience, and the growing adoption of international cuisine.”

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