Tortilla expects FY revenues to exceed expectations

Tortilla now expects its revenue forecast for the year to 29 December to exceed expectations, and as a result, has adjusted its guidance range to between £64m and £64.3m. 

This follows the continuation of the strong sales recovery for the group’s UK business, which has further accelerated following the successful execution of the ‘Vital 5’ strategic plan at the beginning of April 2024. 

Like-for-like sales in UK Tortilla sites continued the group’s recovery, from a decline of 4.2% in Q1 and 2.7% in Q2 to a position of growth in Q3 of +0.6% followed by a strong Q4 of at least +4%. 

In addition, Tortilla’s adjusted net debt at the close of FY24 is expected to sit at £7.3m. 

Andy Naylor, CEO of Tortilla, said: “We are delighted to report that we have gained further momentum in the UK, with a strong Q4 sales performance. We have had an incredibly busy eight months, working on numerous initiatives. 

“We will also further expand our partnership with SSP with openings of Tortilla units in both Stansted airport and Liverpool Street train station in the coming weeks.”

He added: “We are pleased with our achievements this year and I want to thank all the team for all their hard work, enthusiasm and drive which has helped us deliver some significant goals. I look forward to working with the team to deliver further positive achievements in FY25.”