Wahaca turnover up 28%

31 March 2016 by
Wahaca turnover up 28%

Mexican restaurant group Wahaca has posted a 28% increase in turnover for 2014/15, although pre-tax profit at the firm has fallen by just over 15%.

The figures were revealed in accounts filed in Companies House for the year to 28 June 2015.

The business, founded by Mark Selby and former MasterChef winner Thomasina Miers, and backed by Capricorn Ventures, saw turnover rise to £36.2m for the period, up from £28.2m the year before.

Pre-tax profit fell slightly to just under £1.5m for the year, down from just over £1.7m.

The company, which now has 20 Wahaca restaurants, with a 21st due to open in Brighton soon, attributed the growth in turnover to a mix of organic growth and the launch of five new sites during the period.

It said that "despite a healthy increase in profit from our sites, the group profit before tax decreased primarily due to preopening costs on new sites (including four further sites that opened after the end of the financial year) and from the additional depreciation of new sites."

Founded in 2007, Wahaca has sites across central London and beyond, including in Brixton, Stratford and Soho, plus one site apiece in Cardiff and Bluewater, Kent.

The group also runs two "Mexican street kitchen" ventures next to its permanent location on London's Southbank and in Canary Wharf, while Miers also announced the launch of her separate yet similar, US-Mexico-style brand DF/Mexico in London's Shoreditch in June 2014, which has since expanded to a second site in Tottenham Court Road.

The company won a the Sustainable Business Award at the Cateys in 2015.

Wahaca profits triple >>DF Mexico to open on Tottenham Court Road >>

Wahaca and Turtle Bay to open in Liverpool One >>

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