Pizza Pilgrims reports profit boost amid ‘measured’ expansion

Pizza Pilgrims’ pre-tax profit has more than doubled amid plans for nationwide expansion.

 

The Neapolitan pizza group, founded in 2012 by brothers Thom and James Elliott, opened its first regional site in Brighton followed by Nottingham and Cambridge in the financial year ended 25 June 2023.

 

It also opened sites in Queens Park in London and in Leeds in 2023, and plans are under way for four launches in 2024, including debut sites in Cardiff and Edinburgh.

 

The group operates 22 restaurants and has committed to “measured, sustainable growth” through “robust operational processes and risk management strategies”.

 

During the period, pre-tax profit more than doubled to £0.7m from £0.3m in 2022, while revenue increased by 37% to a record-breaking £28.7m, compared to £21m in 2022.

 

The average monthly number of employees also grew from 354 in 2022 to 416 in 2023, while earnings before interest, taxes, depreciation and amortisation rose to £2.4m, up from £1.1m the previous year.

 

In March Pizza Pilgrims received B Corp certification. The group stressed B Corp “will remain a focus for the company”.  

 

Thom Elliot, co-founder of Pizza Pilgrims, said: “We remain focused on building a sustainable business for the long-term, delighting customers, and supporting our teams. This year will see exciting new openings in Scotland and Wales, demonstrating our belief that sustainable growth is a result of running a great business. We look forward to sharing our legendary Neapolitan hospitality with our growing band of Pilgrims across the UK.”

 

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