In the year ending December 31, 2023, Popeyes expanded its UK presence from 17 to 38 locations, demonstrating the effectiveness of its rollout strategy, according to the company’s latest accounts filed with Companies House. Despite reporting a pre-tax loss of £9.4 million—up from a £4.1 million loss the previous year—the group highlighted significant revenue growth.
Drew Taylor, chief financial officer at Popeyes UK, stated, “The accounts from this period reflect our investment into a growing company, including new sites and an increased headcount; gearing up our infrastructure to support the business’ expansion ambitions.” He emphasized that 2023 saw impressive revenue growth, with total sales reaching £58 million and a 19.6% increase in like-for-like sales.
Popeyes has maintained its momentum since its highly publicized launch, with 60 new openings, solidifying its market presence in the UK. Taylor noted that the company is on track to operate approximately 65 sites by the end of 2024, with even more ambitious expansion plans for 2025.
The business aims to exceed £100 million in sales for the 2024 financial year, a target previously announced in April. In January, TDR Capital acquired a controlling stake in Popeyes UK, enabling the company to maintain its growth trajectory and accelerate its opening program. Since launching its first UK location in Stratford, London in November 2021, Popeyes has expressed plans to open 350 sites across the UK in the next decade.
