Wasabi returns to a profit after adding heat to expansion plans

 
Kasmira Jefford
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Wasabi’s bento boxes and sushi are a popular lunchtime choice for office workers
TAKEAWAY sushi and bento chain Wasabi hailed a return to profit last year after expanding its presence in the UK and launching its first outlet in New York.

Accounts filed at Companies House show Wasabi Sushi Bento made a pre-tax profit of £4.26m in the year to 27 December compared with a loss of £1.15m when it booked heavy expansion costs.

Turnover grew by 22 per cent to £70.4m compared with £57.9m the previous year.

Wasabi was founded in 2004 by Korean entrepreneur Dong Hyun Kim, who previously ran a takeaway food stall in Camden Market.

At the end of the year, the company had 43 outlets, including 40 Wasabi branches, Korean restaurant Kimchee on High Holborn and two smaller takeaway formats called Kimchee to go.

Kim has ambitious plans to grow the chain both in the UK and in the US, and said that Wasabi was confident that it will be able fund its expansion using a mixture of cash and available loan facilities.