T
ortilla Mexican Grill slipped to a loss for the previous six months because it witnessed a “quiet” summer time.
However, the fast-casual restaurant chain held agency on its buying and selling steering for the yr as gross sales continued to develop.
The enterprise, which has 85 eating places, revealed on Tuesday that its revenues elevated by 22% to £32.7 million for the six months to July 2, in contrast with a yr earlier.
Tortilla mentioned its summer time buying and selling was “unsurprisingly quiet, as seen in the wider market”, which it linked to elevated demand for abroad holidays, ongoing industrial motion and “uninspiring weather”.
We continued to develop our retailer property and have efficiently embedded the Chilango acquisition
Despite current development, the corporate swung to a £600,000 pre-tax loss for the interval, in contrast with a roughly £300,000 pre-tax revenue a yr earlier.
Tortilla mentioned it’s pushing ahead with efforts to enhance profitability and flagged that its value pressures are “easing” because it additionally advantages from just lately negotiated contracts.
Richard Morris, chief government of Tortilla, mentioned: “Despite the challenging economic backdrop, during the first half Tortilla demonstrated its resilience and showed consistent progress, with revenue growth of more than 20%.
“We continued to expand our store estate and have successfully embedded the Chilango acquisition.
“We have also enhanced our food offer and secured significant improvement in our costs structure while making technology upgrades which will improve and quicken customer service at peak trading times.
“With our outstanding food offer, excellent value for money and great service, alongside our adaptable and resilient business model, we remain well placed to continue expanding our UK network whilst taking the brand into new markets, particularly in Europe.”
Shares within the enterprise dipped 0.4% in early buying and selling.
