Giggling Squid reports ‘most profitable period' despite Covid impact
Thai restaurant group Giggling Squid has reported its "most profitable period since inception" in its latest financial year, despite the impact of Covid-19 restrictions.
For the year to 3 April 2022, the group said turnover increased by 94.4% to £65.88m, resulting in a pre-tax profit of £5.37m, compared to £1.36m the prior year.
Directors said the business had "proven its ability to quickly pivot to ‘offsite' trading if required" which, combined with its "strong financial position" and "excellent levels of continued trading", gave them confidence in the company overcoming any future pandemic-related challenges.
Giggling Squid was founded in 2009 by Pranee and Andrew Laurillard with its first restaurant in Brighton. It now operates 45 Thai restaurants under the Giggling Squid brand as well as two restaurants under the newly acquired Lime Squeezy brand, with further openings planned for this financial year.
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