Honest Burgers' sales rise as expansion continues

By Sophie Witts contact

- Last updated on GMT

Honest Burgers' sales rise as expansion continues

Related tags: Honest Burgers, Burgers, Restaurant

Honest Burgers saw sales rise £6.7m to £22.3m in the year to January 2018 as it continued its expansion.

In its latest results the group reported restaurant EBITDA rose from £3.3m to £5.1m year-on-year.

The 28-strong brand also invested c£1m in setting up its own butchery,​ Honest Butchers, to help control its supply chain as it grows.

The group - which launched in Brixton in 2011 - opened seven new restaurants in 2017, including the first two regional sites in Reading and Cambridge.

Honest Burgers’ finance director David Foulis, who joined from D&D London this year, says that sales were driven by an investment in food quality and work “defining and investing in brand values”.

He added that current financial year was set to be “exciting” with a further seven new openings, including two more outside London.

In February Honest Burgers secured a £17m funding package​ from its banking partner Santander to support its growth pipeline.

The chain’s 29th​ restaurant will open in London’s Waterloo on 15 October.

Related topics: Business

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