Tortilla Mexican Grill Ltd. (GB:MEX) has released an update.
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Tortilla Mexican Grill PLC, Europe’s leading fast-casual Mexican restaurant group, reports a decrease in revenue to £31.5m and stable adjusted EBITDA at £1.8m for H1 2024 compared to the previous year, amidst strategic shifts including a dual delivery platform and a focus on in-store sales. Despite a challenging trading environment and slower-than-expected implementation of key initiatives, the company shows early signs of progress with its ‘Vital 5’ strategy, including a brand expansion in the UK and Europe, particularly with the acquisition of Fresh Burritos. CEO Andy Naylor remains optimistic about the brand’s innovation and market position as they continue to improve food quality and implement new technologies.
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