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LONDON - Tortilla Mexican Grill PLC (LSE:MEX), Europe’s largest fast-casual Mexican restaurant group, reported revenue of £35.4 million for the first half of 2025, up £3.9 million from the same period last year, with UK like-for-like growth of 5.0%.
The company’s UK operations outperformed the wider market, with like-for-like revenue growth of 5.9% in Q1 and 4.2% in Q2, compared to industry benchmark CGA Coffer reporting declines of 2.5% and 3.4% respectively for the same periods.
Tortilla’s franchise network showed strong performance with H1 like-for-like revenue growth of 12.8% in the UK and 16.8% in the UAE, with 13 locations across these markets achieving weekly sales records.
The group reported adjusted EBITDA (pre-IFRS) of £1.2 million, with the UK business generating £2.4 million, 33% higher than last year, while the French business posted a loss of £1.2 million as the company continues its expansion efforts.
Group net debt stood at £9.8 million at the end of the period, with the company successfully refinancing its debt facilities with Santander (BME:SAN) to support future growth plans.
The company is currently converting its French locations to the Tortilla brand, with contractors on site at planned refurbishment locations. Most sites are expected to be transformed by year-end.
Tortilla has expanded its technology investments, with self-ordering kiosks now installed in 32 locations. The company plans to open its first site in Abu Dhabi in early August.
Despite challenging market conditions, the board expects full-year 2025 results to be in line with market expectations, according to the company’s press release statement.
Tortilla Mexican Grill currently operates 81 UK locations (14 franchised), 24 in France (11 franchised), and 12 franchise stores in the Middle East.
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