German owned pizza and pasta chain Vapiano, has reported pre-tax profit of £373,509 in the year to 31 December 2012. Turnover was also up to £6,584,200.
The positive rise in figures comes after the company made an operating loss of £298,074 in 2011 before on turnover of £5,199,076. However Vapiano did then go on to report a pre tax profit of £7.1m, which was largely down to a waiver of intercompany debt of £7.5m.
Vapiano currently operate 2 sites in London with the flagship located on Great Portland Street. Last month it was announced the company plans to open its third site in the capital and said it would invest £2.5m to redevelop a former nightclub on Wardour Street in Soho.
The Great Portland Street site offers 420 covers, which are turned up to six times a day, with the upper end of total meals served hitting 3,000 - average spend-per-head is circa £11. This site alone employs 100 staff and the guest mix is 66 per cent female and 85 per cent of customers are under 35. Vapiano, which serves fresh food prepared at stand-alone pasta, pizza and salad stations, currently has sites in 35 countries.
Phil Sermon, who is in charge of the company in the UK has previously hinted that Vapiano may expand to 40 sites in the UK.