Appetite for expansion outside of London hammers profits at sushi and Asian-inspired food chain Itsu

Francesca Washtell
Follow Francesca
Russian Agent Poisoned In London
Itsu's sales were up but expansion and an IT overhaul ate into its profits (Source: Getty)

Profits at healthy eating chain Itsu dived 73 per cent last year as the company developed a taste for expansion outside of London.

The sushi and Asian-inspired food group reported a 22 per cent increase in sales to £82.6m in the year ended 31 December 2015, according to accounts filed at Companies House.

However, profits slid from £1.6m to £434,150 "due to a greater number of new shops and significantly increased IT investment".

Ten new stores were opened over the year, the same amount as opened in 2014.

Read more: London sushi chain Itsu drives sales up with growing customer numbers

Regional branches included Cambridge, Reading and Stansted airport, as well as the opening of flagship stores in Westfield Shepherd's Bush and Bicester Village. It operates almost 70 restaurants in total.

The company also highlighted its "ambitious delivery business", which is expanded last year, as an area it believes "will be a substantial contributor of future growth".

Itsu was launched by Pret a Manger founder Julian Metcalfe in 1997.

Related articles