Hero Brands ‘entering exciting period of growth’ as it returns to profit

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Hero Brands is back in the black and plotting further expansion with a focus on growing its German Doner Kebab (GDK) and Sides brands ‘significantly’ in the next five years.

The group, whose portfolio also includes Choppaluna and Dirty Bones, reported a pre-tax profit of £3.8m for the year ended 31 December 2023.

This is up from a loss before tax of £1.6m in 2022.

The group adds that it is currently on track to deliver £2.5m group EBITDA in 2024.

Hero ‘remained committed to the growth of the brands across its stable and expanding licensing opportunities’ during the 2023 financial year, and has significant plans to push this further in the coming years.

GDK opened 19 new restaurants globally during the 2023 financial period and a further 16 in 2024, with a more aggressive development pipeline secured for 2025.

It reported system-wide global sales of £163.7m for the year ended 31 December 2023.

Meanwhile, Sides, the fried chicken brand created by YouTube collective The Sidemen, has secured a development partner in the UK to roll-out 200 stores over the next ten years as well as in Singapore where the brand plans to open 40 restaurants during the next decade.

“We are entering an exciting period of growth for Hero Brands,” says Athif Sarwar, Hero Brands chairman.

“Our goal has always been to positively influence culture and we continue to develop category defining brands that connect and respond to the modern consumer.”