Honest Burgers Returns to Profit and Eyes Expansion of Its Smash + Grab Concept
Posted by Emma on 15th Oct 2025 Reading Time:
Honest Burgers has made a decisive return to profitability after years of losses, signalling renewed confidence in the UK’s casual dining market and laying out ambitious plans to expand its fast-growing Smash + Grab brand.
The London-based burger chain, backed by Active Partners, reported a pre-tax profit of £1.7 million for the year ending 28 January 2025, reversing a £2.4 million loss the previous year. Turnover rose 6% to £59.9 million, while adjusted EBITDA surged 56% to £6.3 million, underlining what chief executive Matt Brandon described as the group’s “best year to date” .
The positive performance was attributed to a sharp rise in covers, stronger delivery demand, and targeted price adjustments designed to offset persistent inflationary pressures. The brand’s success was further buoyed by the debut of Smash + Grab—a quick-service concept introduced in London’s Liverpool Street in December 2024. The venture serves faster-cooking smashburgers starting at £6.25, alongside milkshakes and fries, and is designed to complement Honest Burgers’ traditional dine-in offering .
Brandon confirmed that the group intends to expand the Smash + Grab model over the coming year, marking a strategic shift towards hybrid dining formats that blend convenience with Honest Burgers’ trademark quality. “These results reflect the strength of the Honest brand, even in the face of ongoing industry challenges,” he said, noting that shareholder investment and new debt refinancing have positioned the business for accelerated growth in 2025 and beyond .
The turnaround comes after a turbulent post-pandemic period, during which the company recorded consecutive annual losses—£3 million in 2021, £5.7 million in 2022, and £2.1 million in 2023. Yet, the recovery has been swift and purposeful. Honest Burgers has since refinanced its debt, secured fresh shareholder backing, and completed the acquisition of 12 former Gourmet Burger Kitchen sites, pushing its estate to over 50 restaurants nationwide .
Founded in Brighton in 2009 by Tom Barton and Philip Eeles, Honest Burgers now operates approximately 51 restaurants across the UK and employs more than 830 staff. The group has invested heavily in site improvements and infrastructure as part of its ambition to quadruple the size of its business by 2030. Brandon, who joined from Popeyes and Burger King earlier this year, replaced Kevin Styles, who departed to lead The Pig Hotels group .
Honest Burgers’ return to profitability is more than just a financial rebound—it represents a strategic repositioning within Britain’s crowded burger market. By embracing agile models like Smash + Grab, the company is bridging the gap between casual dining and quick service, a move that may define the next chapter of growth in the sector.
As economic uncertainty continues to test operators, Honest Burgers’ performance offers a timely reminder that brand authenticity, adaptability, and focus on value remain powerful drivers of long-term success.