Top 100 UK takeaways increase turnover by 10%, research shows

24th July 2018 (Last Updated July 24th, 2018 14:48)

A survey by online marketplace for business finance Funding Options has shown that the turnover of top 100 takeaway restaurants in the UK increased by 10% to £2.7bn in 2017.

Top 100 UK takeaways increase turnover by 10%, research shows
Research shows rising business rates, increased supplier and other factors forced major chains such as Prezzo to close outlets. Credit: Betty Longbottom

Turnover of the top 100 UK takeaways increased by 10% to £2.7bn in 2017, according to a survey by Funding Option, an online marketplace for business finance.

The study also shows that profits of the takeaway businesses increased by 13% over the same time to £180m, compared to the profits of £160m in 2016.

However, 2017 profits of the top 100 UK restaurant groups fell by 64% to £125m, compared to the profits of £345m for the previous year.

The survey also identified that 80 of the top 100 UK takeaways were profitable in 2017, compared to 65 of the top 100 in 2016.

“Takeaways have been more resilient than more upmarket restaurants in the face of the post-Brexit vote slowdown in consumer spending.”

Funding Options CEO Conrad Ford said: “Takeaways have been more resilient than more upmarket restaurants in the face of the post-Brexit vote slowdown in consumer spending.

“Takeaway owners have also been more cautious about taking on potentially ruinously expensive property costs.

“Takeaways have quickly adapted to changing trends in the food industry, moving quickly into higher margin healthy food. They have also been able to capitalise on the rising popularity of newer apps like Just Eat and Deliveroo.”

The study also states that simultaneous overexpansion of a larger number of private equity backed chains was the main factor impacting the UK restaurant sector.

Other factors such as include rising business rates, increased supplier and staff costs and weak consumer spending forced many major chains such as Byron and Prezzo to close large numbers of branches.