Wendy's turnover rises almost 50%

Burger brand Wendy’s saw its turnover rise almost 50% last year during a rapid expansion.

The chain, known for its square burgers, doubled its number of company-owned restaurants from six to 12 in 2023.

Turnover rose from £21.2m in 2022 to £31.9m in 2023 while pre-tax profits dropped slightly from £1.4m to £1.2m.

The chain returned to the UK in 2021 after a 20-year hiatus. It has since launched 33 franchised and company-owned restaurants, with sites due to open in Liverpool, Newcastle and London’s Wood Green this year.

Wendy’s increased its number of employees from 376 in 2022 to 436 in 2023 and has said it will create up to 400 new jobs this year.

Michael Clarke, UK managing director, Europe, for the Wendy’s Company, previously told The Caterer the group had plans for at least 50% of its UK restaurants to be drive-through locations and was looking at extending opening hours of some sites until later in the evening.

Wendy’s was founded in Columbus, Ohio, in 1969 and has more than 6,000 US restaurants but no European sites outside the UK.

The brand plans to use the UK as a base to grow into the market and is recruiting franchisees for Ireland and Spain.