Sticks'n'Sushi sees record sales driven by 'crucial' UK market
Total revenue hit £57m across the group's estate, which includes sites in UK, Denmark and Germany, during the 2020/2021 financial year, with earnings before interest, tax, depreciation and amortisation of £5.9m, corresponding to 10.2% of turnover.
The group said revenues in the UK surpassed those of Denmark, with employee retention and a popular takeaway offering helping to drive the strong result.
“We opened our first [delivery] location in London in March 2012, and we are starting to feel the effects of the hard and persistent work on a fiercely competitive market," says Andreas Karlsson, CEO of Sticks’n’Sushi.
"Today our British restaurants have overtaken the Danish market in terms of revenue, and I expect it to remain our largest market in 2022.”
Founded in Copenhagen in 1994, Sticks’n’Sushi operates 12 restaurants in Denmark, nine in the UK and is soon to reach three in Germany.
The company says its takeaway offering proved a hit with consumers while restaurants were closed.
“There were long periods where people weren’t able to visit restaurants, but still wanted a restaurant-like experience," says Anders Kjørup, COO of Sticks’n’Sushi.
"I believe we struck the right balance between taste, aesthetics, and convenience. This has been an important learning for us going forward we will continue developing our takeaway offerings.”
According to Karlsson, Germany will be the group's main focus in 2022 with an ambition to expand and establish the brand further in the German capital, Berlin.
The chain will also consolidate its Danish business and keep building on the growth of the UK market.
“We created a strong brand in the UK and in Denmark," adds Karlsson.
"It is our ambition to establish the same presence and brand in Berlin. We have opened two restaurants with a third on its way and are actively seeking a fourth and fifth location.
"Across all three markets we want to strengthen the business, ensure that our products are innovative and further develop our employees who have been crucial for our good results in the past year.”
