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Pizza Pilgrims has unveiled plans to expand into Scotland and Wales as revenues rose by 37% to a “record” £28.7m during the year ended 25 June 2023.
The pizza chain, which currently trades from 20 locations, has also revealed that pre-tax profit more than doubled to £700k and EBITDA before exceptional items was £2.4m – up from £1.1m in 2022.
This comes as trading across all restaurants during the period was strong, particularly in Carnaby Street, Victoria and Waterloo in London, as well as Cambridge and Leeds.
Two new sites have opened to date in Queen’s Park, London, and Leeds since June 2023.
A further four new sites are scheduled to open in 2024 in Euston and King’s Cross in June and November, respectively.
The group also plans to open debut sites in Wales and Scotland – in Cardiff this August and Edinburgh by December.
As the group has minimal debt, new site expansions are said to be “almost entirely” self-funded from free cash flow. Each new site creates between 15 and 25 new jobs.
Thom Elliot, co-founder of Pizza Pilgrims, said: “The strong trading across the business underlines the commitment we have made to serve the best, authentic Neapolitan pizza with our own twist.
“We have always strived to grow at the right pace, and we remain focused on building a sustainable business for the long-term which will continue to delight customers and support our teams for decades to come.”
He added: “This year will see four new openings, including our inaugural pizzerias in Scotland and Wales – as we continue to demonstrate that sustainable growth remains an output of running a great business, rather than our sole focus.”
