Burger chain Patty & Bun has said increased competition in the premium sector saw its sales growth slide in the year to 30 November 2017.
The company’s sales grew by 42.9% compared with 65.5% the previous year, with turnover reaching £8.8m.
However despite the increase in turnover, pre-tax losses increased to £748,321 compared with £352,434 the previous year.
The group had opened three sites in the year, taking its portfolio to eight at the end of the period.
Despite competition hitting growth, the report, filed with Companies House, states that the group’s directors remain optimistic and will continue in their strategy to grow the brand nationally.
The report states: “The UK casual dining market and in particular the premium hamburger segment in which the group operates is becoming increasingly competitive through the introduction of new entrants as well as the expansion of established players. The directors believe that the quality of Patty & Bun’s offer sets it apart form the competition and will ensure that with continued focus the group will perform well and meet its growth objectives.”