Restaurants

Wagamama turnover jumps in second-quarter results

Japanese restaurant chain Wagamama has reported an 11% increase in turnover to £93.5m in the 22-week period to 29 September 2019.

The growth in turnover was the result of the “continued expansion” of its restaurants in the UK, which saw six new sites and one delivery kitchen open during the quarter.

Additionally, the brand reported a 6.3% increase in UK like-for-like sales, as well as 12.5% US like-for-like sales growth during the period. Adjusted EBITDA also grew by 27.2% in Q2 2019 to £16.7m, up from £13.2m in Q2 2018/19.

CEO Emma Woods said: “Great businesses are built from dedicated people, a commitment to always be on the side of their customers and a galvanising sense of purpose.

“Wagamama has always followed this model, and I am thrilled to say has delivered another quarter of strong outperformance versus the market with a number of record restaurant sales weeks.”

She added: “We look forward to 2020, and whilst we don’t expect to be immune to the various headwinds facing our industry, we will stay true to our positive culture and growth mindset.”

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