Giggling Squid reports strong growth as it continues expansion plan

For its full-year results, ending 2 April 2023, the Thai restaurant group reported like-for-like sales "materially ahead of pre-pandemic levels".

Restaurant turnover increase 11.3% over the year from £65.9m to £73.3m, with the cash partially used to fund three new sites in Maidstone, Winchester and Alderley Edge.

CEO Andy Laurillard said: "FY23 was quite tough with post pandemic challenges affecting all of the main lines of hospitality sector P&Ls – a frightened customer retrenching, double digit food inflation, labour cost and availability issues, energy spikes and the withdrawal of government support.

"We dealt with all of that and are heading into the back half of FY24 with our strongest ever numbers and our happiest ever customers."

The group said following its year end sales have remained strong, while EBITDA margins have returned to pre-pandemic levels. Giggling Squid has also opened two new sites in Cardiff and Bracknell, both are "trading significantly above expectations".

Giggling Squid was founded in 2009 by Pranee and Andrew Laurillard with its first restaurant in Brighton. It now operates 48 restaurants, with further openings planned for this financial year.