Healthy fast food restaurant group Leon generated its first ever pre-tax profit in 2014, as the business revealed plans to open another 19 sites in 2016.
Leon, founded by Henry Dimbleby and John Vincent, had 21 restaurants at the end of the 2014 financial year, 15 of which it operates itself, and six through its franchisee HMS Host, which specialises in transport locations.
It saw revenue from all Leon sites rise by nearly 58% to £24.9m for the year to 28 December 2014, as it recorded a pre-tax profit of just under £910,000, up from a loss of nearly £710,000 in the previous year.
The figures come as Leon steps up its expansion, with John Vincent moving to the CEO role and Adam Blaker joining the business to support on property acquisition and new builds.
Having opened four sites in London at the end of last year, the business plans 12 more locations this year – including the first of its owned sites outside London, in the redeveloped Birmingham New Street station. The 1,500 sq ft site is due to open in September and more sites outside of London are expected to follow.
The year 2014 saw a 23.4% increase in like-for-like sales for Leon, with company EBITDA up 10.2% over the year against the previous 12 months. Annualised revenue per site was up £210,000, to £1.42m per site in 2014.