Pod shareholders ‘evaluating their options'

Healthy fast-food chain Pod has appointed RSM consultancy to "support shareholders in evaluating their options to secure the continuing success of the pod concept".

Natalie Ord, an M&A and private equity partner at RSM, said: "Pod is a successful profitable business with a strong management team and a plan for continued reinvention and growth. We anticipate strong interest in supporting the management team to take the business to the next phase of its success."

The 22-strong, London-based group reported a "dramatic turnaround in performance" in 2018 just last month, achieving turnover growth with a reduced portfolio.

In financial results filed with Companies House, it said changes introduced by new chief executive Alex Young in the second half of 2017 had reaped "huge improvements in trading and profitability".

Two stores had been closed, taking the portfolio to 22, but across the group like-for-like sales increased by 4% in the year to 3 January 2019. Total sales reached £17.4m, with earnings increasing to £400,000 from a loss of £800,000 the previous year.

The company recorded a pre-tax loss of £486,973, up from a loss of £1.7m the previous year.

Pod reports ‘dramatic turnaround in performance' in 2018 >>