Giggling Squid, the private equity backed Thai restaurant group has announced revenue figures for the year, totaling in at £11.8 million, a healthy 55% increase on last year. They are now the largest casual dining Thai with more sites than any other Thai brand in the UK.
Currently trading from 17 sites, similar rates of growth are predicted as Giggling Squid plans to launch 8-9 more restaurants, with Warwick (150 covers) Wokingham (120 covers), and Farnham (140 covers) launching before Christmas 2016.
EBITDA figures for the year have also been confirmed as a strong £1.9 million, a 53% increase on last year. Due to high demand Giggling Squid is now starting to open and fill larger units, as well as extending to all day openings, as diners like to enjoy their unique lunch tapas concept long into late afternoon.
All new sites opened so far have exceeded expectations, as the tentacles of brand reputation have advanced wider than their current trading footprint. Mature sites including Brighton and Henley are also doing well with double digit growth across the estate.
Looking ahead, the pipeline for 2017/2018 is also looking healthy with a number of properties secured or in planning processes; by the middle of 2017, Giggling Squid looks set to trade across 25 sites.
Giggling Squid founder, Pranee Laurillard comments, “these are very exciting times for the Giggling Squid family. We are thrilled with the support from our loyal customers and the demand from new ones! We can’t wait to bring our delicious Thai cooking to even more people across the country.”