17th Jul 2023 10:14
Tortilla Mexican Grill PLC - London-based fast-casual restaurant chain - Confident 2023 results will be in line with market expectations of adjusted earnings before interest, tax, depreciation and amortisation of GBP5.0 million on revenue of GBP69.8 million. This is up from GBP4.0 million in adjusted Ebitda on GBP57.7 million in revenue in 2022. Revenue in the six months that ended July 2 was GBP32.7 million, up 22% from GBP26.9 million a year before, Tortilla says. Like-for-like revenue increased by 8.4% when adjusting for a value-added-tax benefit a year before, outpacing the wider market. However, this implies slower growth as the half-year progressed. Like-for-like sales growth on the same basis had been 11% in the eight weeks to February 26. Net debt on July 2 is GBP1.6 million, as expected. Read More
