Tortilla revenues spike 79% to £48.1m
The board also remains confident in the group's ability to make good progress against its store roll-out strategy to open 45 new sites in the next five years
Tortilla has announced group revenue increased 79% to £48.1m, from £26.8m the previous year for the financial year ending 2 January 2022.
This was driven by growing customer demand across all the group’s channels of eat in, take away and delivery, and underpinned by the continued roll-out of new sites in line with the group’s growth strategy.
UK like-for-like (LFL) revenue versus 2019 increased by 23.8% despite lockdowns and restrictions.
According to the brand, further growth was driven by the addition of seven UK company-operated restaurants and two UK franchise restaurants, taking Tortilla’s estate to 64 stores globally.
It also revealed the board remains confident in the group’s ability to make good progress against its store roll-out strategy to open 45 new sites in the next five years.
FY21 revenue and profits are materially ahead of its expectations following stronger trading in Q4, with the firm having “strong confidence” in outlook and ability to deliver in line with expectations for FY22.
Richard Morris, CEO of Tortilla, said: “We are delighted to have maintained the very strong trading momentum, outlined at the time of our IPO, to achieve an excellent full year performance. This was supported by the growing appeal of our proposition and the continued expansion of the Tortilla brand.
“In addition to delivering this very strong financial growth, we were pleased to achieve progress against a number of strategic objectives, including the launch and development of various partnerships, and growing our estate of delivery kitchens and traditional bricks and mortar locations,.”
