Gusto shows solid growth & aims for further expansion

Italian restaurant operator, Gusto has reported strong results for the year ending March 31, 2015 with a 22% rise in sales to £18.2m.

Like-for-like sales outperformed the wider market growing by 6.9%, and site EBITDA was up 15% on the previous year.

During the period, a flagship restaurant in Spinningfields, Manchester was launched with a £1.3m transformation of a grade II listed building.

Also in the year, Gusto's parent company Living Ventures sold a majority stake (65%) to Palatine Private Equitys. Living Venture founders Tim Bacon and Jeremy Roberts remain as non-executive directors.

With Palatine Private Equitys' backing, Gusto is aiming to grow the brand to 26 sites over the next four to five years.