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Wagamama sales up 13.5% driven by new restaurants

15 January 2014 by
Wagamama sales up 13.5% driven by new restaurants

Wagamama saw a 13.5% leap in sales last year as the Japanese-inspired restaurant company, driven by a raft of new openings.

Sales of £141.2m for the 12 months to 28 April 2013 were posted yesterday, up from £124.4m the previous year, helped in large part by the launch of 14 new restaurants.

Pre-tax profits at the private equity-owned business rose by 1% to £17.6m and EBITDA (earnings before interest, tax, depreciation and amortisation) was up 7.9% to £23.1m.

The director's report, filed yesterday at Companies House, said: "The management is confident that there is considerable potential for continued expansion of the business and the brand and will continue to focus on a well-controlled growth programme."

Wagamama was founded in 1992 when Alan Yau, who also founded Hakkasan, opened the first restaurant in Bloomsbury, London. He left the company in 1997.

The current owner is Duke Street Capital, which bought the business from Lion Capital in 2011. Last year saw a management reshuffle when Steve Easterbrook quit his role as chief executive to return to McDonald's where he'd previously spent 18 years.

A new chief executive, former Formula One boss David Campbell, was appointed in September.

Wagamama opens its 100th restaurant >>

Wagamama appoints Formula One boss as chief executive >>

Steve Easterbrook leaves Wagamama to return to McDonald's >>

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