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Wagamama reports 12% sales growth in months before takeover

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Wagamama reports 12% sales growth in months before takeover

Wagamama has reported 12% sales growth in the UK in the second quarter of 2018/2019, with turnover increasing to £78m, up from £67.6m the previous year. 

The 16% growth in UK turnover in the months before the company’s takeover by the Restaurant Group combined with that across the US and franchised sites to see business-wide turnover increase by 15.4% to £81.5m.

Company-wide earnings before interest, tax, depreciation and amortisation was up by 18.7% to £13.2m, compared to £11.1m the previous year.

The period, which saw one new UK opening and 10 refurbishments, saw Wagamama outperform the UK market for almost five consecutive years.

Chief executive Emma Woods said: “We want Wagamama to be special, both the bowl and the soul, and so have continued to invest in our amazing teams, our vegan food and our customer service this quarter.

“As a result, we have sustained our outperformance of the UK market. The business is well prepared for, and excited about the next stage of its development, with the Restaurant Group as our new owners.

“As the ownership baton gets handed on, I would like to take this opportunity to say a big thank you to Jane Holbrook, Duke Street and Hutton Collins for their committed leadership and ownership approach to Wagamama.”

Wagamama employees set to share £4m bonus pot following sale>>

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