Pizza Pilgrims Profits Soar Amidst Strategic Expansion
Posted by Emma on 2nd Jul 2024
Pizza Pilgrims has reported a significant increase in pre-tax profit, doubling its earnings as part of a strategic nationwide expansion. Founded in 2012 by brothers Thom and James Elliott, the group has successfully opened new sites across the UK, including Brighton, Nottingham, Cambridge, Queens Park in London, and Leeds, during the financial year ending on 25 June 2023.
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The group's commitment to "measured, sustainable growth" is evident through its careful planning and robust operational processes. With plans to launch four new sites in 2024, including debut locations in Cardiff and Edinburgh, Pizza Pilgrims is poised for continued success.
During this period, Pizza Pilgrims' pre-tax profit surged to £0.7 million, a substantial increase from £0.3 million in 2022. Revenue also saw a remarkable rise, growing by 37% to a record-breaking £28.7 million, compared to £21 million in the previous year. The average monthly number of employees expanded from 354 in 2022 to 416 in 2023, and earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to £2.4 million, up from £1.1 million the previous year.
In addition to its financial achievements, Pizza Pilgrims received B Corp certification in March, underscoring its social and environmental performance commitment. Co-founder Thom Elliott emphasised that B Corp would remain a central focus of the company.
Thom Elliott stated, "We remain focused on building a sustainable business for the long term, delighting customers, and supporting our teams. This year, we will see exciting new openings in Scotland and Wales, demonstrating our belief that sustainable growth results from running a great business. We look forward to sharing our legendary Neapolitan hospitality with our growing band of Pilgrims across the UK."
Pizza Pilgrims currently operates 22 restaurants and continues expanding its footprint while strongly emphasising sustainable practices and customer satisfaction.