£7m spend on sites and kitchens pushes 16% Wagamama growth

Wagamama

Wagamama has attributed part of its 16% growth in turnover in Q3 to new site openings.

Turnover increased to £64.2m in the third quarter on the back of a £7m investment in new sites and kitchens relating to its global expansion plans.

The brand’s capital expenditure increased 139% in Q3 as it opened two new restaurants, bringing its total number of UK restaurants to 127.

Wagamama opened a restaurant at Dean Street and a new franchise restaurant in Dundonald in Northern Ireland.

It also opened its first New York City restaurant in November and has seven refurbishments either underway or completed in Q3.

Meanwhile, EBITDA increased 11% to £11.7m and compared to last year, company-owned restaurants saw a 9% like for like hike in sales.

Table showing Wagamama’s comparative turnover between Q3 2016/17 and Q3 2015/16.

wagamama q3 report turnover

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