Gusto sees turnover rise to £24m

By James McAllister

- Last updated on GMT

Gusto Italian restaurant group sees turnover rise to £24m

Related tags Gusto Italian Casual dining R200 Multi-site

Northern-based restaurant group Gusto Italian has seen its turnover almost double in its latest set of financial results, with earnings before interest, taxes, depreciation and amortisation (EBITDA) also up.

The 14-strong group reported turnover of £24.2m for the year ended 25 September 2022, up from £12.4m the previous year.

EBITDA was £3.4m at a site level and £0.9m (2021: £0.6m) at company level.

The group notes that its strong results were achieved in spite of ongoing operational challenges including the impact of the Omicron Covid-19 variant in December 2021; widespread cost inflation across food, drink, wages and utilities; and Russia’s invasion of Ukraine in early 2022.

In response to these challenges, Gusto says it has focused on enhancing the customer experience.

This includes through investing in its Gold Rewards programme, which gives benefits for repeat visits; and the introduction of a new labour management system that’s linked to payroll.

In total, Gusto reported a loss after tax of £390,000 for the period, down from a profit of £526,000 the year before.

Looking ahead, the group says it has had a positive start to the new financial year, and is trading ahead of expectations.

It opened a new site in Oxford in December last year​, marking its most southerly restaurant to date; and has also continued its refurbishment plan, updating the look and feel of three sites sine the year-end.

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