{"company":"Tortilla Mexican Grill plc","asOf":"2026-10-19","currency":"GBP","financialUnits":"GBP millions unless labelled","sources":{"FY21":{"title":"FY2021 annual results","date":"2022-04-11","url":"https://www.investegate.co.uk/announcement/rns/tortilla-mexican-grill--mex/annual-results/6904144","location":"Financial review; consolidated income statement, balance sheet and cash flow; alternative performance measures and restaurant estate."},"FY22":{"title":"FY2022 annual results","date":"2023-03-27","url":"https://www.investegate.co.uk/index.php/announcement/rns/tortilla-mexican-grill--mex/annual-results-publication-of-annual-report/7331638","location":"Financial review; consolidated income statement, balance sheet and cash flow; alternative performance measures and restaurant estate."},"FY23":{"title":"FY2023 annual results","date":"2024-04-24","url":"https://www.lse.co.uk/rns/MEX/annual-results-and-publication-of-annual-report-gm0wmczy71n7jfd.html","location":"Financial review; consolidated income statement, balance sheet and cash flow; alternative performance measures and restaurant estate."},"FY25":{"title":"FY2025 audited annual results, replacement announcement; includes FY2024 comparatives","date":"2026-07-27","url":"https://www.investegate.co.uk/announcement/rns/tortilla-mexican-grill--mex/final-results-replacement/9688615","location":"Financial review; consolidated income statement, balance sheet and cash flow; alternative performance measures and restaurant estate."},"H126":{"title":"H1 FY2026 interim results; includes restated H1 FY2025","date":"2026-09-29","url":"https://tortillagroup.co.uk/wp-content/uploads/H1-FY26-RNS-Interim-Results.pdf","location":"Financial review; consolidated income statement, balance sheet and cash flow; alternative performance measures and restaurant estate."},"call2026":{"title":"Management presentation · 1 October 2026","url":"https://www.investing.com/news/transcripts/earnings-call-transcript-tortilla-mexican-grill-posts-h1-2026-sales-growth-93CH-4927944","location":"Full transcript: Brandon Stephens and Richard Haley on France closures. Management estimates, not audited cash savings."},"model":{"title":"Company operating model","url":"https://tortillagroup.co.uk/investment-case/","location":"Central preparation, food proposition and restaurant formats. General model only; not a source for current financial numbers."},"FY24":{"title":"Tortilla FY2024 annual results","url":"https://tortillagroup.co.uk/wp-content/uploads/Annual-Results-2024.pdf","checked":"2026-10-19"},"H125":{"title":"Tortilla H1 FY2025 original report: operational LFL only; financials superseded by H126","url":"https://tortillagroup.co.uk/wp-content/uploads/H125-RNS-Interim-Results-1.pdf","checked":"2026-10-19"}},"periods":{"annual":[{"period":"FY2021","end":"2022-01-02","weeks":52,"source":"FY21","secondarySource":"FY22","revenue":48.075399,"grossProfit":38.278164,"grossMarginPct":79.6,"adjEbitda":8.7,"adjEbitdaPrecision":"rounded £m","operatingProfit":3.634155,"netProfit":1.361574,"cashOperations":11.723129,"tangibleCapex":2.793181,"intangibleCapex":0,"cashLeasePayments":3.932971,"interestPaid":0.203303,"cashBalance":9.653172,"netDebtExLeases":-6.741231,"netDebtBasis":"borrowings 2.911941 minus cash 9.653172","totalSites":64,"ownSites":51,"franchiseSites":13,"ukOwnSites":51,"ukFranchiseSites":3,"uaeFranchiseSites":10,"ukLflPct":null,"lflVs2019Pct":23.8,"caveats":["Pandemic affected trading and comparability. FY2021 adjusted EBITDA included £3.9m VAT benefit per FY2022 report; do not treat peak margin as normalised.","No separate French segment before 2024 acquisition."],"cashAfterLeaseInterestCapex":4.793673999999999,"label":"2021","axisLabel":"2021","sourceIds":["FY21","FY22"],"qualifiers":{},"sourcesByMetric":{"franchiseIncome":"FY22","leaseLiabilities":"FY22"},"kindsByMetric":{"netDebtExLeases":"Calculated","franchiseIncome":"Reported","leaseLiabilities":"Reported"},"periodNotes":{"netDebtExLeases":"borrowings 2.911941 minus cash 9.653172","adjEbitda":"Rounded £m; included £3.9m VAT benefit, per FY2022 report.","totalSites":"Snapshot at 2022-01-02; not the period-average estate.","ownSites":"Snapshot at 2022-01-02; not the period-average estate.","franchiseSites":"Snapshot at 2022-01-02; not the period-average estate.","ukLflPct":"Contemporary LFL disclosure uses 2019, not the previous year; excluded from this YoY series.","franchiseIncome":"Note 4 Revenue (RNS lines 1245–1255). GBP millions. Franchise income, matching consolidated annual metric; not consumer system sales.","leaseLiabilities":"Consolidated statement of financial position and note 14; RNS lines 663–672 / 1563–1593. GBP millions. FY2022 balance-sheet sum and maturity table equal £36,723,891; lease movement note prints £36,723,889, a £2 discrepancy. Use balance-sheet/maturity figure and retain source note. FY2021 current £5,830,987 + non-current £25,831,103."},"capex":2.793181,"adjEbitdaMarginPct":18.096573675862782,"revenueGrowth":null,"ukInStoreLflPct":null,"ukDeliveryLflPct":null,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"ukAdjEbitda":null,"franceAdjEbitda":null,"franceGrossMarginPct":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"leaseLiabilities":31.66209,"franchiseIncome":0.306121,"sitePayback":null,"ukRevenue":null,"franceRevenue":null},{"period":"FY2022","end":"2023-01-01","weeks":52,"source":"FY22","secondarySource":"FY23","revenue":57.698487,"grossProfit":44.092662,"grossMarginPct":76.4,"adjEbitda":3.972471,"operatingProfit":0.536129,"netProfit":-0.638222,"cashOperations":7.587397,"tangibleCapex":6.643962,"intangibleCapex":0,"cashLeasePayments":6.353067,"interestPaid":0.181759,"cashBalance":2.3758,"netDebtExLeases":0.554681,"netDebtBasis":"borrowings 2.930481 minus cash 2.3758","totalSites":82,"ownSites":null,"franchiseSites":17,"ukOwnSites":null,"ukFranchiseSites":9,"uaeFranchiseSites":8,"ukLflPct":null,"lflVs2019Pct":16.4,"caveats":["Chilango acquisition changes perimeter; acquisition spending excluded from capex.","Source About section says 65 company stores and sums to 82; property paragraph says 62, which only sums to 79. Total 82 is consistently disclosed; prefer total only or flag own-store inconsistency.","Later FY23 CFO prose mistakenly calls FY22 £0.6m net cash; FY22 accounts demonstrate net debt."],"cashAfterLeaseInterestCapex":-5.591391,"label":"2022","axisLabel":"2022","sourceIds":["FY22","FY23"],"qualifiers":{},"sourcesByMetric":{"franchiseIncome":"FY22","leaseLiabilities":"FY22"},"kindsByMetric":{"netDebtExLeases":"Calculated","franchiseIncome":"Reported","leaseLiabilities":"Reported"},"periodNotes":{"netDebtExLeases":"borrowings 2.930481 minus cash 2.3758","totalSites":"Snapshot at 2023-01-01; not the period-average estate.","ownSites":"Own-store prose is inconsistent in the release; the consistently reported total of 82 is retained.","franchiseSites":"Snapshot at 2023-01-01; not the period-average estate.","ukLflPct":"Contemporary LFL disclosure uses 2019, not the previous year; excluded from this YoY series.","franchiseIncome":"Note 4 Revenue (RNS lines 1245–1255). GBP millions. Franchise income, matching consolidated annual metric; not consumer system sales.","leaseLiabilities":"Consolidated statement of financial position and note 14; RNS lines 663–672 / 1563–1593. GBP millions. FY2022 balance-sheet sum and maturity table equal £36,723,891; lease movement note prints £36,723,889, a £2 discrepancy. Use balance-sheet/maturity figure and retain source note. FY2021 current £5,830,987 + non-current £25,831,103."},"capex":6.643962,"adjEbitdaMarginPct":6.884878974382811,"revenueGrowth":20.01665758405875,"ukInStoreLflPct":null,"ukDeliveryLflPct":null,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"ukAdjEbitda":null,"franceAdjEbitda":null,"franceGrossMarginPct":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"leaseLiabilities":36.723891,"franchiseIncome":0.647851,"sitePayback":null,"ukRevenue":null,"franceRevenue":null},{"period":"FY2023","end":"2023-12-31","weeks":52,"source":"FY23","revenue":65.674965,"grossProfit":50.791761,"grossMarginPct":77.3,"adjEbitda":4.565275,"operatingProfit":0.68411,"netProfit":-1.092543,"cashOperations":9.936692,"tangibleCapex":4.535117,"intangibleCapex":0,"cashLeasePayments":5.881752,"interestPaid":0.282849,"cashBalance":1.644674,"netDebtExLeases":1.304347,"netDebtBasis":"borrowings 2.949021 minus cash 1.644674","totalSites":87,"ownSites":69,"franchiseSites":18,"ukOwnSites":69,"ukFranchiseSites":10,"uaeFranchiseSites":8,"ukLflPct":3.6,"ukLflVatAdjustedPct":4.9,"caveats":["FY2023 LFL is versus FY2022, unlike FY2021/2022 comparisons versus 2019.","Annual-results tables carry unaudited labels; audit report not independently checked here."],"cashAfterLeaseInterestCapex":-0.7630259999999986,"label":"2023","axisLabel":"2023","sourceIds":["FY23"],"qualifiers":{},"sourcesByMetric":{"franchiseIncome":"FY23","leaseLiabilities":"FY23","ukAdjEbitda":"FY24","franceAdjEbitda":"FY24"},"kindsByMetric":{"netDebtExLeases":"Calculated","franchiseIncome":"Reported","leaseLiabilities":"Reported","ukAdjEbitda":"Reported APM","franceAdjEbitda":"Reported APM"},"periodNotes":{"netDebtExLeases":"borrowings 2.949021 minus cash 1.644674","totalSites":"Snapshot at 2023-12-31; not the period-average estate.","ownSites":"Snapshot at 2023-12-31; not the period-average estate.","franchiseSites":"Snapshot at 2023-12-31; not the period-average estate.","franchiseIncome":"Note 4 Revenue (RNS lines 1073–1079). GBP millions. FY2022 comparative £647,851 independently confirms prior year.","leaseLiabilities":"Statement of financial position and note 13, carrying amount by maturity. GBP millions: £5,670,902 current + £29,532,937 non-current. Do not substitute undiscounted £43,356,322.","ukAdjEbitda":"FY2023 UK adjusted EBITDA before IFRS16: £4.6m, explicitly reported as a rounded comparative in the FY2024 results. The UK operational reporting scope includes administered Middle East franchise income. Retain the source’s £0.1m precision; do not substitute the exact consolidated group adjusted EBITDA of £4.565275m.","franceAdjEbitda":"FY2023 France adjusted EBITDA before IFRS16 is reported as nil in the FY2024 comparative. France was acquired in2024, so 0 records the pre-acquisition comparative, not an operating French estate breaking even. This APM is not French cash flow."},"capex":4.535117,"adjEbitdaMarginPct":6.951316989662651,"revenueGrowth":13.824414494612313,"ukInStoreLflPct":null,"ukDeliveryLflPct":null,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"ukAdjEbitda":4.6,"franceAdjEbitda":0,"franceGrossMarginPct":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"leaseLiabilities":35.203839,"franchiseIncome":0.826916,"sitePayback":null,"ukRevenue":null,"franceRevenue":null},{"period":"FY2024","end":"2024-12-29","weeks":52,"source":"FY25","basis":"Comparatives in FY2025 audited accounts","revenue":67.999489,"grossProfit":52.100241,"grossMarginPct":76.6,"adjEbitda":4.5,"adjEbitdaPrecision":"rounded £m","operatingProfit":-1.186504,"netProfit":-3.326471,"ukRevenue":64.996151,"franceRevenue":3.003338,"ukAdjEbitda":5.2,"franceAdjEbitda":-0.7,"cashOperations":10.585298,"tangibleCapex":4.999191,"intangibleCapex":0,"cashLeasePayments":6.853314,"interestPaid":0.477781,"cashBalance":2.76096,"netDebtExLeases":5.7,"netDebtBasis":"company rounded adjusted APM, excluding leases","totalSites":117,"ownSites":81,"franchiseSites":36,"ukLflPct":-0.1,"groupLflPct":-0.1,"franceLflPct":-15,"systemSales":90,"caveats":["France acquired during 2024; partial-year consolidation versus full-year 2025. Revenue/loss growth not like-for-like.","Use comparatives in FY2025 audited accounts; do not splice old preliminary results."],"cashAfterLeaseInterestCapex":-1.7449880000000002,"label":"2024","axisLabel":"2024","sourceIds":["FY25","FY24"],"qualifiers":{},"sourcesByMetric":{"franchiseSites":"FY24","ownSites":"FY24","ukDeliveryLflPct":"FY24","ukInStoreLflPct":"FY24","ukLflPct":"FY25"},"kindsByMetric":{"netDebtExLeases":"Reported APM","franchiseSites":"Calculated","ownSites":"Calculated","ukDeliveryLflPct":"Reported","ukInStoreLflPct":"Reported","ukLflPct":"Reported"},"periodNotes":{"netDebtExLeases":"company rounded adjusted APM, excluding leases","adjEbitda":"rounded £m","totalSites":"Snapshot at 2024-12-29; not the period-average estate.","ownSites":"Printed p.7, Property portfolio and strategy. Explicit end-2024 inventory: own 68 UK + 13 France = 81; franchise 7 SSP + 5 Compass + 10 Middle East + 14 France = 36; total 117. Add source-specific provenance and replace current metric caveat saying 2024 split is not established. About-company text at publication date is a different snapshot.","franchiseSites":"Printed p.7, Property portfolio and strategy. Explicit end-2024 inventory: own 68 UK + 13 France = 81; franchise 7 SSP + 5 Compass + 10 Middle East + 14 France = 36; total 117. Add source-specific provenance and replace current metric caveat saying 2024 split is not established. About-company text at publication date is a different snapshot.","franceAdjEbitda":"Rounded; partial year after the France acquisition.","franceRevenue":"Partial-year consolidation; FY2025 is a full year.","ukDeliveryLflPct":"Printed p.9, Financial review / Revenue (PDF lines 460–464). The source explicitly gives whole-year in-store -0.1% and delivery -11.2%. Retain separate channel metrics; do not replace with year-end +6% exit-growth snapshot.","ukInStoreLflPct":"Printed p.9, Financial review / Revenue (PDF lines 460–464). The source explicitly gives whole-year in-store -0.1% and delivery -11.2%. Retain separate channel metrics; do not replace with year-end +6% exit-growth snapshot.","ukLflPct":"Alternative performance measures table, FY24 comparative (RNS lines 352–357). Latest audited-results APM table explicitly labels UK LFL -0.1%. Original FY2024 release also calls -0.1% in-store growth; preserve original source/scope caveat rather than claiming these are an identical all-channel definition."},"capex":4.999191,"adjEbitdaMarginPct":6.617696788868517,"revenueGrowth":3.5394369833314565,"leaseLiabilities":37.550333,"franchiseIncome":1.101264,"ukInStoreLflPct":-0.1,"ukDeliveryLflPct":-11.2,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"franceGrossMarginPct":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"sitePayback":null},{"period":"FY2025","end":"2025-12-28","weeks":52,"source":"FY25","basis":"Audited corrected FY2025 accounts","revenue":73.989937,"grossProfit":55.666847,"grossMarginPct":75.2,"adjEbitda":1.1,"adjEbitdaPrecision":"rounded £m","operatingProfit":-12.098558,"netProfit":-15.109996,"ukRevenue":68.10067,"franceRevenue":5.889267,"ukAdjEbitda":6.3,"franceAdjEbitda":-5.2,"cashOperations":7.429739,"tangibleCapex":4.24978,"intangibleCapex":0.016917,"cashLeasePayments":7.623278,"interestPaid":0.7918,"cashBalance":1.608931,"cashFlowClosingCashNetOverdraft":-0.304864,"netDebtExLeases":10.8,"netDebtBasis":"company adjusted APM, including delivery cash in transit and excluding leases","totalSites":114,"ownSites":78,"franchiseSites":36,"ukOwnSites":65,"ukFranchiseSites":15,"franceOwnSites":13,"franceFranchiseSites":9,"uaeFranchiseSites":12,"ukLflPct":6.2,"ukInStoreLflPct":2.9,"ukDeliveryLflPct":12.9,"groupLflPct":5.3,"franceLflPct":1.7,"systemSales":98.3,"caveats":["£2.7m correction to French operating expenses/revenue accounting reduced FY2025 adjusted EBITDA; do not use earlier £3.8m expectation.","Announcement headline says revenue £73.8m/+8.5%, but audited income statement, segment note and CFO review report £73,989,937 (~£74.0m)/+8.8%. Dataset uses statutory statement, discrepancy must be noted.","£9.9m impairments materially affect statutory loss; noncash impairment is not current cash burn.","Covenant breaches at Dec2025/Mar2026 subsequently waived; 2026 thresholds revised, original levels from 2027."],"cashAfterLeaseInterestCapex":-5.252036000000001,"label":"2025","axisLabel":"2025","sourceIds":["FY25"],"qualifiers":{},"sourcesByMetric":{},"kindsByMetric":{"netDebtExLeases":"Reported APM"},"periodNotes":{"netDebtExLeases":"company adjusted APM, including delivery cash in transit and excluding leases","adjEbitda":"rounded £m","totalSites":"Snapshot at 2025-12-28; not the period-average estate.","ownSites":"Snapshot at 2025-12-28; not the period-average estate.","franchiseSites":"Snapshot at 2025-12-28; not the period-average estate.","revenue":"Audited statement: £73.989937m; conflicts with £73.8m announcement headline.","netProfit":"Includes £9.9m noncash impairment charges; not a measure of current cash burn."},"capex":4.266697000000001,"adjEbitdaMarginPct":1.4866886560533228,"revenueGrowth":8.809548554107515,"leaseLiabilities":35.508475,"franchiseIncome":1.7459,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"franceGrossMarginPct":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"sitePayback":null}],"halfYear":[{"period":"H1 FY2025 restated","end":"2025-06-29","weeks":26,"source":"H126","revenue":36.316,"grossProfit":27.327,"grossMarginPct":75.2,"adjEbitda":-0.369,"operatingProfit":-2.901,"netProfit":-3.772,"ukRevenue":33,"franceRevenue":3.3,"segmentRevenuePrecision":"rounded £m","ukAdjEbitda":2.4,"franceAdjEbitda":-2.8,"segmentEbitdaPrecision":"rounded £m; rounded sum differs from exact group","franceGrossMarginPct":57.8,"franchiseIncome":0.9,"cashOperations":1.988,"tangibleCapex":2.015,"intangibleCapex":0.034,"cashLeasePayments":3.724,"interestPaid":0.263,"cashBalance":1.601,"cashFlowClosingCashNetOverdraft":-0.411,"netDebtExLeases":9.91,"caveats":["Use restated comparison in H1 FY2026 filing, not original H1 FY2025 release."],"cashAfterLeaseInterestCapex":-4.048,"label":"H1 2025*","axisLabel":"H1 2025*","sourceIds":["H126","H125"],"qualifiers":{},"sourcesByMetric":{"ukLflPct":"H125"},"kindsByMetric":{"netDebtExLeases":"Reported APM","ukLflPct":"Reported"},"periodNotes":{"netDebtExLeases":"Restated in the H1 2026 report. Company adjusted net debt; excludes leases and adjusts delivery cash in transit.","ukAdjEbitda":"Rounded segment disclosure; may not sum exactly to group.","franceAdjEbitda":"Rounded segment disclosure; may not sum exactly to group.","ukRevenue":"Rounded segment disclosure.","franceRevenue":"Rounded segment disclosure.","totalSites":"Snapshot at 2025-06-29; not the period-average estate.","ownSites":"Snapshot at 2025-06-29; not the period-average estate.","franchiseSites":"Snapshot at 2025-06-29; not the period-average estate.","franchiseIncome":"Financial-review income included in the UK segment; annual royalty line is consolidated. Compare matching periods.","revenue":"Restated in the H1 2026 report. ","netProfit":"Restated in the H1 2026 report. ","adjEbitda":"Restated in the H1 2026 report. ","cashOperations":"Restated in the H1 2026 report. ","ukLflPct":"Printed pp.1 and 8; UK operational trading disclosure. Operational UK LFL disclosure from original H125; financial metrics must continue to use the H126 restatement. Label this provenance separately, because the restatement concerns French financial accounts. H125 in-store/delivery fields should stay null unless matching half-year values are found; disclosed 6.3% delivery is Q2-only."},"capex":2.049,"adjEbitdaMarginPct":-1.0160810661967177,"revenueGrowth":null,"leaseLiabilities":34.914,"ukLflPct":5,"ukInStoreLflPct":null,"ukDeliveryLflPct":null,"ukVolumeGrowthPct":null,"franceConvertedLflPct":null,"repeatRate":null,"averageSpend":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"totalSites":null,"ownSites":null,"franchiseSites":null,"sitePayback":null},{"period":"H1 FY2026","end":"2026-06-28","weeks":26,"source":"H126","revenue":38.454,"grossProfit":28.722,"grossMarginPct":74.7,"adjEbitda":0.502,"operatingProfit":-0.186,"netProfit":-1.602,"ukRevenue":35.4,"franceRevenue":3.1,"segmentRevenuePrecision":"rounded £m","ukAdjEbitda":2.6,"franceAdjEbitda":-2.1,"segmentEbitdaPrecision":"rounded £m; rounded sum differs from exact group","franceGrossMarginPct":65.5,"franchiseIncome":0.7,"cashOperations":3.577,"tangibleCapex":1.162,"intangibleCapex":0.006,"cashLeasePayments":3.712,"interestPaid":0.506,"cashBalance":1.527,"cashFlowClosingCashNetOverdraft":-2.257,"netDebtExLeases":12.37,"totalSites":107,"ownSites":74,"franchiseSites":33,"ukOwnSites":64,"ukFranchiseSites":14,"franceOwnSites":10,"franceFranchiseSites":7,"uaeFranchiseSites":12,"ukLflPct":13.9,"ukInStoreLflPct":6.5,"ukDeliveryLflPct":32.7,"ukVolumeGrowthPct":4.8,"ukVolumeSource":"FY25 current trading section published July2026","franceConvertedLflPct":18.2,"groupStoreClosureExpense":0.573,"groupRestructuringExpense":0.403,"franceExceptionalAndPreopening":0.423,"caveats":["France 65.5% is full-half gross margin; 70% is end-of-half exit margin, not same period.","Gross margin comparison affected by £0.3m discount reclassification into cost of sales from administration; company says comparable margin flat.","Store-count snapshot at June28 predates two subsequent French closures. Do not mix with September operational estate.","£14.4m available facilities is not undrawn headroom; cannot subtract adjusted net debt to calculate unused facility.","Closure accounting expenses are not complete French cash exit costs and include UK and other restructuring."],"cashAfterLeaseInterestCapex":-1.8090000000000002,"label":"H1 2026","axisLabel":"H1 2026","sourceIds":["H126"],"qualifiers":{},"sourcesByMetric":{"ukVolumeGrowthPct":"FY25"},"kindsByMetric":{"netDebtExLeases":"Reported APM"},"periodNotes":{"netDebtExLeases":"Company adjusted net debt; excludes leases and adjusts delivery cash in transit.","ukAdjEbitda":"Rounded segment disclosure; may not sum exactly to group.","franceAdjEbitda":"Rounded segment disclosure; may not sum exactly to group.","ukRevenue":"Rounded segment disclosure.","franceRevenue":"Rounded segment disclosure.","totalSites":"Snapshot at 2026-06-28; not the period-average estate.","ownSites":"Snapshot at 2026-06-28; not the period-average estate.","franchiseSites":"Snapshot at 2026-06-28; not the period-average estate.","franchiseIncome":"Financial-review income included in the UK segment; annual royalty line is consolidated. Compare matching periods.","ukVolumeGrowthPct":"H1 volume growth disclosed in the July 2026 annual-results trading update.","grossMarginPct":"£0.3m discount reclassification affects reported comparison; company says comparable margin was flat.","franceGrossMarginPct":"Whole-half average. The 70% end-June margin is a different observation."},"capex":1.168,"adjEbitdaMarginPct":1.3054558693503928,"revenueGrowth":5.887212248044937,"leaseLiabilities":31.969,"repeatRate":null,"averageSpend":null,"foodCostPerMeal":null,"kitchenUtilisation":null,"labourCostPct":null,"sitePayback":null}]},"metrics":[{"key":"revenue","label":"Group revenue","group":"Demand","unit":"GBP m","kind":"Reported","meaning":"Sales recognised by the consolidated business.","formula":"Company-operated sales plus recognised franchise and other revenue.","read":"Read growth beside restaurant profitability and cash.","limit":"Acquisitions and openings change the perimeter; not system sales.","core":true},{"key":"revenueGrowth","label":"Group revenue growth","group":"Demand","unit":"%","kind":"Calculated","meaning":"Change in the scale of reported sales.","formula":"Current revenue / prior comparable-period revenue − 1.","read":"Separate organic demand from openings, acquisitions and closures.","limit":"No preceding observation for the first stored period; FY2024/25 France consolidation differs.","core":false},{"key":"ukLflPct","label":"UK like-for-like sales growth","group":"Demand","unit":"%","kind":"Reported","meaning":"Sales growth within the company-defined comparable UK estate.","formula":"Company-reported YoY LFL growth.","read":"Read with transactions, price and channel mix.","limit":"2021–22 comparisons to 2019 are excluded. Sales growth does not isolate customer volume.","core":true},{"key":"ukInStoreLflPct","label":"UK in-store LFL growth","group":"Demand","unit":"%","kind":"Reported","meaning":"Comparable sales growth through the in-store channel.","formula":"Company-reported YoY in-store LFL growth.","read":"Compare with delivery growth and repeat demand.","limit":"Not a standalone transaction count or cash contribution.","core":false},{"key":"ukDeliveryLflPct","label":"UK delivery LFL growth","group":"Demand","unit":"%","kind":"Reported","meaning":"Comparable sales growth through delivery channels.","formula":"Company-reported YoY delivery LFL growth.","read":"Check commissions, promotions, packaging and capacity.","limit":"Growth is not necessarily incremental to the group and does not prove channel profit.","core":false},{"key":"ukVolumeGrowthPct","label":"UK sales-volume growth","group":"Demand","unit":"%","kind":"Reported","meaning":"Selected disclosure of underlying volume growth.","formula":"Company-reported H1 2026 volume comparison.","read":"Helps distinguish volume from nominal sales growth.","limit":"No complete annual series or detailed transaction methodology is entered.","core":false},{"key":"franceConvertedLflPct","label":"France converted-store LFL growth","group":"Demand","unit":"%","kind":"Reported","meaning":"Sales growth in restaurants converted to the Tortilla brand.","formula":"Company comparison for the converted French subset.","read":"Read with remaining-store margins and group cash needs.","limit":"Excludes closed and unconverted sites; not whole-France revenue growth.","core":true},{"key":"repeatRate","label":"Customer repeat-purchase rate","group":"Demand","unit":"%","kind":"Missing","meaning":"Whether customers return after trying the product.","formula":"Returning customers / a consistently defined customer cohort.","read":"Tests whether food, service and value support sustained demand.","limit":"No comparable public series established; loyalty membership alone is not retention.","core":false},{"key":"averageSpend","label":"Average spend per transaction","group":"Demand","unit":"GBP / order","kind":"Missing","meaning":"Revenue received from an average customer order.","formula":"Relevant sales / transactions, using a consistent channel scope.","read":"Evaluate menu pricing and extras alongside repeat visits.","limit":"No comparable history entered; channel and product mix can change the average.","core":false},{"key":"grossMarginPct","label":"Group gross margin","group":"Efficiency","unit":"%","kind":"Reported","meaning":"Revenue remaining after reported cost of sales.","formula":"Reported gross profit / revenue, using company-rounded disclosure.","read":"Look for purchasing, food-cost and mix effects.","limit":"Excludes many restaurant operating costs; classification changes affect comparisons.","core":false},{"key":"adjEbitda","label":"Group adjusted EBITDA · pre-IFRS 16","group":"Efficiency","unit":"GBP m","kind":"Reported APM","meaning":"Company measure of underlying trading performance after reversing lease-accounting effects.","formula":"Company adjusted EBITDA before IFRS 16.","read":"Read beside statutory results and the cash bridge.","limit":"Excludes specified costs; not net profit or cash available for debt repayment.","core":true},{"key":"adjEbitdaMarginPct","label":"Adjusted EBITDA margin · pre-IFRS 16","group":"Efficiency","unit":"%","kind":"Calculated","meaning":"Share of revenue left on the company adjusted earnings basis.","formula":"Adjusted EBITDA pre-IFRS 16 / revenue × 100.","read":"Tests whether additional sales improve profit conversion.","limit":"Rounded earnings inputs; early VAT support and changes in adjustments affect comparisons.","core":false},{"key":"ukAdjEbitda","label":"UK adjusted EBITDA · pre-IFRS 16","group":"Efficiency","unit":"GBP m","kind":"Reported APM","meaning":"Trading earnings of the UK reporting segment.","formula":"Company segment adjusted EBITDA before IFRS 16.","read":"Test whether UK demand growth produces higher earnings.","limit":"Includes administered Middle East franchise income; not UK statutory net profit.","core":true},{"key":"franceAdjEbitda","label":"France adjusted EBITDA · pre-IFRS 16","group":"Efficiency","unit":"GBP m","kind":"Reported APM","meaning":"French earnings after its costs on the company adjusted basis.","formula":"Company segment adjusted EBITDA before IFRS 16.","read":"Track progress towards covering restaurants and central overhead.","limit":"Negative means loss; 2024 is partial year. Not exact French cash burn.","core":true},{"key":"franceGrossMarginPct","label":"France gross margin","group":"Efficiency","unit":"%","kind":"Reported","meaning":"Revenue retained after the French reported cost of sales.","formula":"Company-reported whole-period gross margin.","read":"Check whether food and purchasing improvements persist.","limit":"Does not include all staffing, rent or overhead. End-period margins are separate.","core":true},{"key":"netProfit","label":"Statutory net profit / loss","group":"Efficiency","unit":"GBP m","kind":"Reported","meaning":"Accounting result after all recognised expenses and tax.","formula":"Consolidated net result attributable to shareholders.","read":"Compare with adjusted earnings and noncash charges.","limit":"Impairments affect accounting profit without being an equivalent current cash payment.","core":true},{"key":"foodCostPerMeal","label":"Ingredient cost per meal","group":"Efficiency","unit":"GBP / meal","kind":"Missing","meaning":"Ingredient resources required per meal served.","formula":"Comparable ingredient cost / meals produced.","read":"Tests purchasing scale, portions and waste together.","limit":"No complete public series; gross margin alone cannot establish it.","core":false},{"key":"kitchenUtilisation","label":"Central kitchen utilisation","group":"Efficiency","unit":"%","kind":"Missing","meaning":"How much practical production capacity is being used.","formula":"Output / practical capacity on a consistent basis.","read":"Tests whether fixed kitchen costs are spread efficiently.","limit":"Capacity, output and utilisation series are not established in this dataset.","core":false},{"key":"labourCostPct","label":"Restaurant labour / sales","group":"Efficiency","unit":"%","kind":"Missing","meaning":"Labour resources required to serve customers.","formula":"Restaurant labour costs / matching restaurant sales × 100.","read":"Read with service quality and meals per paid hour.","limit":"Group employee expense is not the same as restaurant labour; no comparable series entered.","core":false},{"key":"cashOperations","label":"Cash from operations","group":"Cash & debt","unit":"GBP m","kind":"Reported","meaning":"Cash generated in the operating section of the cash-flow statement.","formula":"Reported net cash generated from operations.","read":"Begin the cash bridge here.","limit":"Financing-classified lease payments and bank interest still need to be paid.","core":true},{"key":"cashLeasePayments","label":"Cash lease payments","group":"Cash & debt","unit":"GBP m","kind":"Reported","meaning":"Cash paid under lease liabilities in financing activities.","formula":"Reported payments in respect of lease liabilities.","read":"Deduct this once to understand cash after restaurant rent.","limit":"Includes the reported lease cash burden; do not deduct accrued lease interest again.","core":false},{"key":"interestPaid","label":"Bank interest paid","group":"Cash & debt","unit":"GBP m","kind":"Reported","meaning":"Separate cash financing interest charge.","formula":"Interest-paid line in financing cash flows.","read":"Shows the bank-funding burden in the cash bridge.","limit":"Separate from cash lease payments; not the entire income-statement finance expense.","core":false},{"key":"capex","label":"Tangible & intangible cash capex","group":"Cash & debt","unit":"GBP m","kind":"Calculated","meaning":"Cash invested in equipment, restaurants and included intangible assets.","formula":"Cash purchases of tangible + intangible assets.","read":"Consider maintenance needs alongside expansion investment.","limit":"Excludes acquisitions. Maintenance and growth capex are not reliably separated.","core":true},{"key":"cashAfterLeaseInterestCapex","label":"Cash after leases, interest & capex","group":"Cash & debt","unit":"GBP m","kind":"Calculated","meaning":"Cash left after the selected recurring funding and investment requirements.","formula":"Cash operations − lease cash payments − bank interest paid − total cash capex.","read":"Tests whether the business funds these uses before acquisitions and loan movements.","limit":"Analytical subtotal, not company-reported or normalised FCF. Excludes interest received, disposals and acquisitions.","core":true},{"key":"netDebtExLeases","label":"Net bank / adjusted net debt","group":"Cash & debt","unit":"GBP m","kind":"Reported / calculated","meaning":"Net borrowing burden excluding lease liabilities.","formula":"2021–23: borrowings less cash. 2024 onward: company adjusted net debt.","read":"Read alongside leases and cash generation.","limit":"Definition changes across the series; negative means net cash. Not undrawn facility capacity.","core":true},{"key":"leaseLiabilities","label":"IFRS 16 lease liabilities","group":"Cash & debt","unit":"GBP m","kind":"Reported","meaning":"Recognised obligation for leases at period end.","formula":"Current + non-current lease liabilities.","read":"Read together with bank debt and annual cash payments.","limit":"A discounted accounting balance, not the undiscounted future rent bill.","core":false},{"key":"cashBalance","label":"Cash at bank before overdraft","group":"Cash & debt","unit":"GBP m","kind":"Reported","meaning":"Positive cash balances in the balance sheet.","formula":"Reported cash and cash equivalents in the balance sheet.","read":"Read with overdrafts and other borrowing.","limit":"Cash-flow statement closing cash can be negative after netting overdrafts.","core":false},{"key":"totalSites","label":"Total restaurants · period end","group":"Estate & expansion","unit":"restaurants","kind":"Reported","meaning":"Size of the company-operated and franchised network.","formula":"Reported total at the period end.","read":"Read with cash returns, mature-store demand and closures.","limit":"Not the average operating estate, meal volume or an indicator of successful expansion.","core":true},{"key":"ownSites","label":"Company-operated restaurants","group":"Estate & expansion","unit":"restaurants","kind":"Reported","meaning":"Locations whose sales and local costs are consolidated.","formula":"Period-end company-operated restaurant count.","read":"Read with capital invested and restaurant profitability.","limit":"FY2022 own-store prose conflicts; that gap is retained. FY2024 is calculated from the explicitly dated UK/France inventory.","core":false},{"key":"franchiseSites","label":"Franchised restaurants","group":"Estate & expansion","unit":"restaurants","kind":"Reported","meaning":"Locations operated through franchise partners.","formula":"Period-end franchise restaurant count.","read":"Read with partner economics and royalties.","limit":"Tortilla does not consolidate all franchisee customer sales.","core":false},{"key":"franchiseIncome","label":"Franchise income","group":"Estate & expansion","unit":"GBP m","kind":"Reported","meaning":"Income recognised from franchise operations.","formula":"Reported franchise royalty / income line.","read":"Test franchise growth alongside partner profitability and support costs.","limit":"Reporting terminology and scope may vary; not system sales or franchisee cash profit.","core":false},{"key":"sitePayback","label":"New-site cash payback","group":"Estate & expansion","unit":"years","kind":"Missing","meaning":"Time to recover the cash invested in a new restaurant.","formula":"Initial cash investment / sustainable annual net site cash flow, as a simple approximation.","read":"Evaluate cohorts including closures and maintenance needs.","limit":"No consistent realised cohort series; management targets are not realised returns.","core":false},{"key":"ukRevenue","label":"UK segment revenue","group":"Supporting","unit":"GBP m","kind":"Reported","meaning":"Revenue of the UK reporting segment.","formula":"Reported UK segment revenue.","read":"Read with segment earnings and channel mix.","limit":"Includes Middle East franchise income within the UK reporting segment.","core":false},{"key":"franceRevenue","label":"France segment revenue","group":"Supporting","unit":"GBP m","kind":"Reported","meaning":"Consolidated sales of the French reporting segment.","formula":"Reported France segment revenue.","read":"Read with closures, conversions and segment costs.","limit":"2024 is a partial year; rounded interim segment totals may not sum exactly.","core":false}],"observations":[{"label":"French gross margin at end-June","value":"70%","period":"End H1 2026","source":"H126","note":"Exit observation, not the 65.5% whole-half average."},{"label":"UK recent LFL sales","value":"+19.4%","period":"13 weeks to 27 September 2026","source":"H126","note":"Subsequent trading update, not full-year revenue growth."},{"label":"Converted France recent LFL sales","value":"+24.4%","period":"13 weeks to 27 September 2026","source":"H126","note":"Converted-store subset; excludes closed and unconverted stores."},{"label":"Group closure expense","value":"£0.573m","period":"H1 2026","source":"H126","note":"Accounting expense across UK and France; not a complete French cash exit bill."},{"label":"Group restructuring expense","value":"£0.403m","period":"H1 2026","source":"H126","note":"Broader restructuring expense, separate from the closure expense."},{"label":"French exceptional and pre-opening costs","value":"£0.423m","period":"H1 2026","source":"H126","note":"Different scope from group closure/restructuring expenses. Do not sum overlapping totals."},{"label":"Earlier LFL baseline","value":"+23.8% in 2021; +16.4% in 2022","period":"Both versus 2019","source":"FY22","note":"Pandemic-era two/three-year comparisons; not annual YoY growth."}],"notes":["H1 2025 values use the restated comparatives in the September 2026 interim report. The original interim loss and French earnings figures are superseded. The 2025 annual statements incorporate the French accounting corrections.","2025 revenue is £73.989937m in the audited statement and segment note, versus £73.8m in the announcement headline. This dataset uses the statement figure. Earlier chat figures are not used to override the filing.","FY2021 adjusted EBITDA included a £3.9m VAT benefit, per the FY2022 report. Pandemic disruption and temporary support limit comparisons. Early LFL disclosures use 2019 as their baseline and remain outside the annual YoY series.","France enters consolidation during 2024. A full-year 2025 result is not directly comparable with that partial year. A higher restaurant count or acquisition revenue does not demonstrate organic growth or returns.","FY2022 restaurant prose is inconsistent for company-operated locations. The consistently disclosed total of 82 is retained; the ambiguous own-store count is unavailable. Restaurant counts are dated snapshots, not averages.","Net debt uses balance-sheet borrowings less cash for 2021–23, then the company adjusted measure for 2024 onward. The latter excludes leases and adjusts cash in transit. These are labelled within each observation.","Cash lease payments are deducted once in the cash bridge. The separate accrued lease-interest charge is not deducted again. Bank interest paid is separate. All cash capex is included because a verified maintenance/growth split is unavailable.","Some annual and segment adjusted earnings are rounded to £0.1m. Derived ratios cannot recover precision that the inputs do not provide. H1 segment sums can differ from exact consolidated totals because of rounding.","The 2025 statutory loss includes £9.9m of noncash impairments. Lower subsequent depreciation and gains from lease exits can improve accounting results without equivalent recurring cash savings. Adjusted EBITDA still omits specified costs.","The French accounting correction caused covenant breaches that the bank subsequently waived, with revised 2026 thresholds. The £14.4m facility disclosure is total available facilities, not unused headroom. Subtracting adjusted net debt would not establish undrawn borrowing capacity.","The 2023 source is the company results announcement, whose extracted statement tables carry unaudited labels. No independently checked audit opinion is asserted here. Current interim accounts are also unaudited.","The June 2026 estate snapshot precedes two further French closures. Current trading disclosures through September are kept separate from the half-year financial series."]}