Carluccio's announces increased turnover and EBITDA

24 June 2015 by
Carluccio's announces increased turnover and EBITDA

Italian restaurant group Carluccio's has increased its turnover to £128.3m for the 12 months to 28 September 2014, up 8.8% from £118m the previous year.

The company opened 11 new stores in the UK and Ireland during the financial year, and opened a further five in the Middle East and Turkey under franchise.

Despite the increased investment in new store pre-opening costs and higher property costs, the firm achieved an a 5.9% increase in EBITDA to £14.3m from £13.5m in 2013.

At the year-end the group operated from 101 worldwide locations including the UK, Ireland, US, Middle East and Turkey.

Carluccio's said trading has continued positively into the new financial year with the opening of five UK stores by the end of May 2015 with plans for a further five openings before the end of the year.

In February the group appointed former PizzaExpresss managing director Neil Wickers as chief executive (CEO).

Simon Kossoff has now been made chairman, having been the CEO since the company was founded in 1999.

Kossoff commented: "Carluccio's has performed strongly with good growth in turnover and EBITDA as well as achieving the milestone of over 100 stores worldwide. I look forward to reporting progress towards our key long-term objectives during this forthcoming year with further openings in the key markets of the UK, Ireland and US as well as in our franchised territories.

"I am also delighted that Neil Wickers joined the group in February. Neil's experience means he is ideally placed to guide Carluccio's through this next crucial stage of growth."

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Carluccio's appoints Neil Wickers as new chief executive >>

Carluccio's posts 15% increase in profits >>

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