Chipotle UK shows revenue rise for first year

US-based Chipotle Mexican Grill has posted its annual financial results to 31 December 2014 showing a rise in turnover for its six UK restaurants.

Revenue for the full year of 2014 stood at £7.3m (2013: £6.0m), an increase of 22.3% from the year before.

For the period, the group also reported a rise in losses before tax at £3.4m compared to £3.3m in the previous year.

Chipotle said that the growth in revenue was the result of a favourable increase in comparable restaurant sales, primarily driven by an increase in customer visits, demonstrating a growing demand for our food and our brand.

The company stated: 'Comparable restaurant sales represent the change in period-over-period sales for restaurants beginning in their 13th full month of operation.

'Refining our long term supply strategy for our European locations will remain an important objective, as will continuing to introduce our brand of fast casual Mexican cuisine to new customers throughout London and Europe.

'Our development team continues to seek out new real estate within the London area, and we opened one new location on 8 July 2015 having signed a property lease earlier this year.'