Wagamama sees 9.1% rise in Q2 LFL sales

Casual dining pan-Asian chain, Wagamama has reported UK like-for-like sales rose 9.1% in the 12 weeks to 6 November, the second quarter of its fiscal year 2017.

Turnover increased 14.5% to £61.7m in Q2 2016/17 with the continued expansion of the brand's restaurants in the UK, and 9.1% UK like-for-like sales growth.

Adjusted EBITDA rose by 16.8% in Q2 2016/17 to £10.9m, up from £9.4m in Q2 2015/16.

Four new restaurants opened at Bankside, Peterborough, Ipswich and St Pauls. Thirteen refurbishments have been completed or are underway in Q2 2016/17, bringing Kaizen
design and new covers where possible to the existing estate.

The company’s development is on track with four new UK sites opened in Bankside and St Paul’s in London, as well as Peterborough and Ipswich.

Construction of first New York City restaurant completed in Q2 2016/17 with opening shortly after the quarter end on 16 November, with strong performance and feedback.

New franchise restaurants opened in Jeddah, Istanbul and Auckland and the pipeline is growing.

Chief executive David Campbell said, “We are delighted to have seen another strong quarter across our portfolio of restaurants. The UK estate continues to significantly outperform the market and the company’s second quarter performance follows on from a strong first quarter, delivering half one like-for-like growth of 9.7%, ahead of a relatively flat (-0.2%) market.'