Azzurri Group revenues double in FY22

The Azzurri Group has seen total revenues rise by £119m to £235.9m in its full-year results, an increase of 101.8% against the prior year as the group rebounded from the pandemic. 

The increased sales helped boost profit before tax, which hit £2.7m in the year ended 26 June 2022, up from a £42.3m loss in 2021, while Adjusted EBITDA rose from £19.6m to £25m.

The group, which operates Zizzi and Coco di Mama, noted the comparison between the two periods was “complicated” by the impacts of the pandemic and various Government restrictions in place across the hospitality sector during the prior year.

Over the period, the group restarted its capital investment programme with two new Zizzi sites opening in Leicester Fosse Park and Lancaster, with both sites “exceeding expectations and demonstrating the strong customer appetite” for its brands. In addition, it restarted its refurbishment programme across 22 restaurants.

The group said it has also grown its existing revenue channels this year, whilst also expanding into new channels. In March, Zizzi began selling a range of 10 frozen meal products through 1,200 Tesco stores across the UK. Meanwhile, Coco expanded into new revenue channels including third party delivery kitchens, travel hubs and establishing a successful retail partnership with Sainsbury’s.

Harvey Smyth, chairman of Azzurri Group, said: “We end the year with the businesses in a strong place from a brand, operational and team perspective. The group continues to perform well on customer metrics and revenue is continuing to grow. 

“Cost pressures look set to continue into next year with rising inflation and wholesale energy prices whilst menu innovation and cost mitigation plans are in place to offset this. We start the year with a good level of confidence for the year ahead and as always I would like to thank all of the staff for their continued hard work throughout the last 12 months.”