Burger chain Five Guys thanks ‘curbside collection’ for mitigating Covid impact
Burger chain Five Guys has said it is keen to continue a roll out of venues in the UK.
New store openings were offset by the impact of the Covid pandemic in 2020, accounts filed to Companies House laid bare.
The chain opened 10 new stores in the year, boasting 110 restaurants by the year ended 30 December 2020. The US-based business said it planned to open 20-25 new stores in 2021.
“The directors continue to believe that there are strong growth prospects in the premium burger market and intend to continue the roll out of Five Guys in the UK,” the accounts stated.
It created 552 new jobs in the UK in 2020.
Revenue decreased 5 per cent to £164.2m, compared to £173.2m in 2019, while operating profit increased to £21.2m, compared to £19.2m profit in 2019.
Profit after tax was £1.8m, compared to a £0.7m loss in 2019. The firm said it had been able to “flex its operations” during periods of Covid restrictions in order to “mitigate” the detrimental impact of restaurant closures in lockdowns.
It pointed to “curbside collection” as one way the company had battled the tough trading period, with delivery platforms seeing an uptick in sales since the start of the pandemic.
Family owners the Murrells formed the company as a joint venture with Sir Charles Dunstone to launch the chain in the UK.
The Virginia-founded company opened its first store across the pond in Covent Garden in July 2013.
The company operates 34 restaurants in Greater London with openings planned in Livingston, Hemel Hempstead and York.