Honest Burgers sees turnover rise by 26%

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Honest Burgers reports a 26% increase in turnover

Related tags Honest Burgers Restaurant R200 Multi-site Burgers

Honest Burgers has reported a turnover increase of more than a quarter in its latest accounts.

The burger business saw turnover increase by 26% to £48.3m - a rise of £10.1m - compared to 2022, for the period ending 29 January 2023. The rise was primarily driven by increased transactions with customers, the company says.

Delivery and strong dine-in sales during the year led to an increase in like-for-like sales of 11.3% in January 2023, compared to 2022.

Honest Burgers says it has emerged strongly from the pandemic and that it continues to drive efficiencies to further the long-term ambitions of the business but that challenges remain.

"This year has continued to be challenging for the hospitality industry. Not only does the longer-term change in working patterns post Covid require a much more responsive approach to planning, budgeting and forecasting, the recent train strikes have also further impacted uncertainty,” it says.

“In addition, the Ukraine war has created additional volatility with input costs."

At the end of last year Honest Burgers raised almost £3m​ – smashing its initially £1m target – to fund further growth in the UK as well as a move into the QSR space.

The funds will be uses to build the brand’s presence in regional cities across the UK as well as in London as well as to launch a QSR restaurant format that will compete with the larger fast food burger players, which is expected later this year.

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