Wagamama sales growth up by 7.4% in strong financial year for the chain

Wagamama has released its financial report for the year, showing like-for-like sales growth of 7.4% year ending 29 April.

Group turnover also increased by 13% and rose to £300.6m in 2017/18, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also went up.

Rising to £45.7m from £45.5m, EBITDA showed an increase of 0.4% on last year.

The restaurant chain also had a strong year operationally, opening seven new outlets across the UK, and refurbishing 31.

Outside of the UK and US, where two new restaurants opened their doors, the London-based company opened 13 new franchises across the globe.

Four came in Madrid, with the others in cities such as Doha, Dubai and Utrecht.

Jane Holbrook, CEO at Wagamama, said: “We’ve continued to perform really strongly in the year with 7.4% UK like for like sales growth. This strong trading performance allows us to invest further in innovation to strengthen our brand and differentiate ourselves over the longer term.”

Wagamama was founded in Bloomsbury, London in 1992, and now has a portfolio of over 140 locations across the world.

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