American chain MOD Pizza has outlined further plans for a further seven UK sites, three years after its arrival.
In financial results for the year to 30 December 2018, the group reported that like-for-like revenue across its 10 existing UK sites was up 10%.
Turnover for the period reached £5.4m, however the company recorded a pre-tax loss of £6.9m (a reduction on the £11.1m loss in 2017). The 2018 losses were a reflection of the cost of the support team, pre-opening and depreciation costs, marketing and impairment costs associated with two trial restaurant sites, the group said.
While reporting that a further seven restaurants were planned for 2019, the company said sites would be judged on “quality rather than quantity”, meaning these predictions could be scaled back.
MOD Pizza was founded in Seattle, US, in 2008.