Honest Burgers reports £6.7m sales increase

Honest Burgers reports £6.7m sales increase

For the financial year ended January 2018, Honest Burgers saw a £6.7m sales increase to £22.3m.

Restaurant EBITDA rose from £3.3m to £5.1m, offset by an increase in head office costs of £1.1m due to the appointment of key senior heads to support the growth of the business.

As a result, group EBITDA grew from £2.2m to £2.9m.

The company opened seven new sites, including the first out of London in Reading and Cambridge.

The group also invested £1m in Honest Butchers, bringing the production of burgers in-house.

Honest’s current financial year is shaping up to be an “exciting one”, according to financial director David Foulis, with a further seven new openings including two outside London.

“Year-to-date revenue has seen healthy life-for-life growth, underpinned by further investment in food quality, as well as a significant piece of work defining and investing in brand values,” says Foulis.