Chilango

Today’s news in brief – 04/10/23

Tortilla revenues grew 22% to £32.7m during the 26 weeks ending 2 July, due to eased cost pressures and increased consumer confidence. However, Adjusted EBITDA decreased from £2.5m in H1 2022 to £1.8m due to the absence of government support received in the prior year. The group also integrated Chilango…

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Tortilla revenues increase 22% in H1

Tortilla revenues grew 22% to £32.7m during the 26 weeks ended 2 July, as cost pressures have eased and consumer confidence grew in the UK.  However, while adjusted EBITDA reduced from £2.5m in H1 2022 to £1.8m in the current year, the fast-casual chain reports this is in-line with market…

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Tortilla Group revenues rise 20% in FY22

Tortilla Mexican Grill, one of the most successful fast-casual Mexican restaurant groups in the UK, has reported a revenue increase of 20% to £57.7m, according to its FY22 results. The increase, the group argues, is attributable to a variety of factors, including a 16.4% like-for-like revenue growth, the strategic acquisition…

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Tortilla revenues rise 20% in FY22

Tortilla has seen group revenue rocket 20% to £57.7m in FY22, up from £48.1m the prior year, as it welcomed a “highly resilient” performance despite macroeconomic challenges. UK like-for-like sales were up by 16.4% against FY19, as trading was boosted by a net increase of 18 sites in the period,…

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Why do casual dining sites thrive in economic uncertainties?

“Quick service restaurant companies like us often do well during periods of recession and economic uncertainty,” says Richard Morris, chief executive officer of Tortilla, “as consumers tend to turn to good value-for-money products and brands that they can trust during such times.” In fact, more people are purchasing takeaway or…

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Tortilla warns of £2.3m hit in FY22 amid inflationary pressures

Tortilla has warned that it faces future challenges from rising protein and energy prices, expecting to take a £2.3m hit in its full-year results amid increased inflationary pressures on the industry. For now, its revenue rose by 30% to £26.9m in the first half of FY22, up from £20.8m the…

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Tortilla revenue soars 60% in H1

Tortilla has welcomed strong top-line growth during the first half of FY22, with group revenue soaring 60% to £26.9m, or an increase of 55% excluding the impact of the Chilango acquisition.  The group said this performance was underpinned by growing customer demand for Tortilla’s food as well as the group’s…

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Tortilla acquires Chilango in £2.75m deal

Tortilla, the fast-casual Mexican restaurant group, has announced the acquisition of Chilango Limited for a total consideration of up to £2.75m from investment firm RDCP Group Ltd. Chilango is a fast-casual restaurant chain specialising in Mexican food including burritos, salads and tacos. The business operates from an estate of eight…

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Deliveroo to open new delivery-only kitchens

Deliveroo has announced the UK-wide expansion of its ‘Editions’ kitchens with the opening of new sites across London, in Acton, Brent and Dulwich. The restaurant partners at the new sites include: Five Guys, Dishoom, Shake Shack, Pho, Rosa’s Thai, Tao Tao Ju, Bleecker, Chilango, Tortilla, and Pasta Evangelists. The delivery-only…

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Chilango welcomes Nigel Sherwood as non-exec director

Chilango, the 14-strong Mexican-inspired restaurant chain with sites across London and the UK, has announced the appointment of Nigel Sherwood, who will be joining the board as a non-executive director.  Sherwood is currently chief operating officer at Wagamama and has also worked as  managing director at Shake Shack, and within…

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