Wagamama, the award-winning pan-Asian inspired noodle restaurants chain, has reported financial results for the 52 weeks ended 23 April 2017.
Turnover increased 15.8% to £266.1m primarily due to the continued expansion of restaurants in the UK (four new openings in the period (net of six closures)) and 8.2% UK like-for-like sales growth.
Adjusted EBITDA was up 17.6% to £45.5m from £38.7m and Adjusted EBITDA margin at 17.1% compared to 16.9% in like-for-likes.
The company opened 10 restaurants and 16 refurbishments have been completed. It continued its measured development and roll-out of UK company-owned restaurants.
The new restaurants were opened in Central London, city centres, and shopping centres. Some of these openings have been replacements for existing restaurants where preferred locations have become available.
As at April 23, 2017, the firm operated 124 UK restaurants and served approximately 19 million meals, or on average approximately 2,900 meals per restaurant per week, and had an average spend-per-head of approximately £16.30 (including VAT). The average weekly turnover per restaurant was approximately £30,600, £32,600, £36,800 and £40,600, for Financial Years 2014, 2015, 2016 and 2017, respectively.
Abroad, Wagamama saw a record year for its Boston locations and a strong start in its debut restaurant in New York.
In the next 12 months, Wagamama expects to open approximately 10 new restaurants in the UK as well as a second restaurant in New York City and a new restaurant in Boston.
The delivery option through Deliveroo is now available in 92 Wagamama restaurants.