Tortilla half year results in line with 2023 expectations

By Joe Lutrario

- Last updated on GMT

Tortilla half year results in line with 2023 expectations

Related tags Tortilla Burrito Richard Morris

Fast-casual Mexican group Tortilla has seen its revenue increase by 22% year-on-year to £32.7mn in the first half of 2023.

The burrito specialist puts the uplift down growing demand for its ‘high-quality, value-for-money customer proposition’.

The group has added three new sites curing the period in Derby and Greenwich alongside an additional SSP franchise site at Manchester Piccadilly. 

Franchise sites performed ‘very well’ with ‘record sales’ being achieved in all SSP locations. Further franchise sites in the pipeline to expand on the success.

In total, there are 85 sites at end of the period operating under the Tortilla and Chilango brands. 

The first Tortilla in Northern Ireland​ set to open this week in Belfast. 

The result follows a strong performance last year,​ with turnover up by 20% to £57.7m for the 52 weeks ended 1 January 2023. 

“We are pleased to have delivered good revenue growth and further strategic progress in the first half. Our strong LFL sales growth has been ahead of industry comparatives reflecting the appeal of our high quality, healthy and customisable great value propositions,” says CEO Richard Morris. 

“We continue to deliver on our disciplined but ambitious approach to new site openings and strategic expansion, with all of our new openings performing well and meeting our expectations. Our franchise sites also continue to perform well with our SSP sites achieving record results and we remain hugely excited by the significant franchise growth opportunities in the UK and overseas.”

The Group intends to announce its interim results for the six months ended 2 July 2023 in mid-September 2023.

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