Abokado has announced in its accounts for the year ended 31 March 2015 another year of strong growth, enjoying a 33% increase in sales, a 45% increase in gross profit, and a doubling of adjusted EBITDA.
Turnover increased to £10.8m from £8.1m, the gross profit margin increased to 39% from 35% and adjusted EBITDA was approximately £600k, representing a 100% jump on the previous year.
Sales growth was driven by continued positive like for like sales, the maturing of the company’s more recent store openings and the addition of three new stores. These took the estate to 23 and built on the seven stores opened in the prior year.
NPS hits 73%
Mark Lilley, founder, said
“We had another strong year and are pleased with the company’s performance across our financial and non-financial KPIs. Our Net Promoter Score hit a record 73%.
“Trading since the year end has remained strong, with continued positive LFLs and an increase in store and company EBITDA. We’ve opened two new stores and the leases on further stores have been signed or are under offer.
“We also created the position of Operations Director and welcomed Richard Zivkovic, previously of Pret A Manger, Costa and Be At One to the management team and Board.
£2.6m of funding from RBS
“We’re also pleased to announce that in July 2015 the company secured £2.6m of funding from RBS. This gives us the fire power to accelerate our growth over the coming years. Our vision remains to help people live happier and healthier lives by making our Feel Great Food as accessible as possible.”
Abokado is a leading operator in the healthy food sector with more than 25 sites across London. It was founded in 2004 by Mark & Lindsay Lilley with a mission to help people lead happier and healthier lives. The business employs more than 250 people and offers a menu of sushi, salads, noodles, soups, breakfast and coffee all of which are freshly prepared in-store. The company has ambitious growth plans to achieve its vision of making its Feel Great Food accessible to more and more people.