Tortilla Mexican Grill (MEX)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

50.50p
   
  • Change Today:
    -2.50p
  • 52 Week High: 66.00
  • 52 Week Low: 38.00
  • Currency: UK Pounds
  • Shares Issued: 38.66m
  • Volume: 9,925
  • Market Cap: £19.53m

Tortilla Mexican Grill warns on FY earnings

By Iain Gilbert

Date: Wednesday 20 Dec 2023

LONDON (ShareCast) - (Sharecast News) - Restaurant group Tortilla Mexican Grill warned that its full-year performance would be "slightly behind" previous expectations as a result of "subdued consumer confidence".
UK like-for-like growth was slightly higher at 3.7%, driven by new store openings around the country, while full-year revenues were 13.8% stronger at £65.7m.

However, Tortilla said the ongoing cost-of-living crisis had hurt the eating-out market during the year and currently anticipates adjusted underlying earnings to be in the vicinity of £4.5m-£4.6m, down from previous expectations of £5.0m.

Tortilla said its London sites, shopping centres, and travel locations continued to perform "particularly well", while its high street locations were impacted by "lower footfall over the past few months". Sales in smaller tertiary cities and towns were also lower.

Chief executive Richard Morris said: "As a management team we are taking proactive actions to adapt to the changing market environment. We know that in buoyant eating out markets where the Tortilla brand is well known, we outperform. We have a strong portfolio of new sites in high-quality locations as well as additional franchise growth opportunities.

"In addition, we intend to increase marketing investment to improve broader consumer awareness of our brand and fresh, value for money proposition whilst also taking action to optimise the profitability and long-term potential of our delivery channel."

As of 0900 GMT, Tortilla shares had slumped 9.09% to 50.0p.











Reporting by Iain Gilbert at Sharecast.com

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MEX Market Data

Currency UK Pounds
Share Price 50.50p
Change Today -2.50p
% Change -4.72 %
52 Week High 66.00
52 Week Low 38.00
Volume 9,925
Shares Issued 38.66m
Market Cap £19.53m

MEX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.22% below the market average27.22% below the market average27.22% below the market average27.22% below the market average27.22% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average
Price Trend
43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average43.52% below the market average
58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average58.49% below the sector average
Income Not Available
Growth
26.08% above the market average26.08% above the market average26.08% above the market average26.08% above the market average26.08% above the market average
26.53% below the sector average26.53% below the sector average26.53% below the sector average26.53% below the sector average26.53% below the sector average

MEX Dividends

No dividends found

Trades for 07-Oct-2024

Time Volume / Share Price
13:21 5 @ 52.00p
13:21 5 @ 52.00p
11:56 2,037 @ 49.35p
11:57 2,037 @ 49.35p
11:41 3,902 @ 50.12p

MEX Key Personnel

CEO Andy Naylor
CFO Maria Denny

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