Five Guys European sales surge £90m in 2023
By the end of 2023, Five Guys had a total of 256 restaurants across the UK, France, Spain and Germany – up from 242 a year prior
US burger chain Five Guys has reported that sales at its European arm rose by more than £90m to £542.9m for the year to 31 December 2023.
According to the group’s accounts with Companies House, pre-tax losses were also reduced from £35.6m to £16.2m over the same 12-month period.
In the UK specifically, Five Guys’ revenues rose by 13.5% to £316.4m from £278.6m recorded in 2022.
By the end of 2023, Five Guys had a total of 256 restaurants across the UK, France, Spain and Germany – up from 242 a year prior.
Meanwhile, the average number of employees across Europe rose from 8,054 to 8,480 during the year.
The board stated on Companies House: “The group continued its expansion and the directors are confident in the growth plans going forward in all territories.
“The high levels of inflation experienced in 2022 continued into 2023 and, whilst the group was not completely immune to this, we were able to manage our cost base effectively and implement modest price increases to offset the impact of rising input costs.