Italian restaurant group Carluccio’s has announced that sales from its operations increased 9% last year, giving it a turnover of £128m.
The company declared it a “successful year” as its accounts also revealed that EBITDA grew 6% to £14.3m, despite increased investment in new store pre-opening costs and higher property costs.
During the 12-month period to the end of September 2014, the group opened further stores in the UK, purchased the Carluccio’s restaurant in Ireland from its franchisee and continued its expansion in Dubai and Turkey under franchise. At year-end, the group operated from 101 worldwide locations.
In the UK, it has launched 11 UK and Ireland stores opened during the last 12 months. A further five additional stores opened under franchise in the Middle East and Turkey.
Chairman Simon Kossoff said: “Carluccio’s has performed strongly with good growth in turnover and EBITDA as well as achieving the milestone of over 100 stores worldwide. I look forward to reporting progress towards our key long-term objectives during this forthcoming year with further openings in the key markets of the UK, Ireland and US as well as in our franchised territories.”
Carluccion’s said that trading has continued positively into its new financial year with the opening of five UK stores by end May 2015 and a secure pipeline to deliver a further five openings before the year end.
Neil Wickers joined the group in February as CEO to lead it through its next stage of growth. He previously worked for Pizza Express International as managing director. Simon Kossoff, CEO since the company was founded in 1999, has been appointed chairman.
The group’s first US store in Virginia opened earlier this month. A second location has been secured in the Maryland, which is scheduled to open later this year.
A second store in Dublin, Ireland, meanwhile, launched in March 2015 with a further two locations secured for opening in the next financial year. An additional three restaurants opened in Dubai.