- Tortilla Mexican Grill
- 30 September 2025 08:36:56
Source: Sharecast
While Tortilla's UK business delivered record first-half results, including a 33% year-on-year increase in adjusted EBITDA to £2.4m, this was offset by a £1.2m loss in France as the group invested in brand rollout and infrastructure.
Group revenue rose 14% to £36.0m in the 26 weeks ended 29 June, driven by 5.0% like-for-like growth in the UK and contributions from its Fresh Burritos acquisition in France. However, adjusted EBITDA fell to £1.2m from £1.8m a year earlier, and the group posted a pre-tax loss of £2.3m, widening from £200,000 in H124.
Tortilla also said UK trading remained strong, with Q3 like-for-like sales up 7.0%, and reiterated confidence in the long-term potential of its European expansion strategy.
Net debt increased to £9.8m, up from £3.3m, though Tortilla said its refinancing deal with Santander had boosted available facilities to £12.5m.
Tortilla also announced on Tuesday that it had tapped Richard Haley to take over as chief financial officer, with effect from 6 October. Haley has held senior finance leadership positions at Trainline, Nightcap, Halma, William Hill, Future, and Tesco.
As of 0835 BST, Tortilla shares had sunk 12.5% to 35p.
Reporting by Iain Gilbert at Sharecast.com