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Pod reports ‘dramatic turnaround in performance' in 2018

17 April 2019 by
Pod reports ‘dramatic turnaround in performance' in 2018

Healthy fast-food chain Pod has reported a "dramatic turnaround in performance" in 2018, achieving turnover growth with a reduced portfolio.

In financial results filed with Companies House, it said changes introduced by new chief executive Alex Young in the second half of 2017 had reaped "huge improvements in trading and profitability".

Two stores had been closed, taking the portfolio to 22, but across the group like-for-like sales increased by 4% in the year to 3 January 2019.

Total sales reached £17.4m, with EBITDA increasing to £400,000 from a loss of £800,000 the previous year.

The company recorded a pre-tax loss of £486,973, up from a loss of £1.7m the previous year.

Pod said that the market remains challenging and securing new sites remains competitive, but this is expected to soften in the next year or two with company in a good position to "exploit opportunities as they arise in the marketplace."

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