Turnover at the health-focused QSR brand rose to £17.9m for the 52 weeks to 31 December 2023, compared to £11.1m the previous year, with loss after tax for the period standing at £703,000, compared to a loss of £1.36m year before.
“We have seen office workers return to London which has supported the growth of the business,” says Farmer J founder Jonathan Recanati in the company’s latest financial report.
“While we saw a period of significant inflationary pressures following the Covid-19 pandemic, Brexit, and the war in Ukraine, we now see a path to a more stable environment.”
Farmer J operates 11 sites across the capital and says it is in advanced legals on a number of sites. It hopes to reach 14 sites by the year end and expects to operate more than 20 sites in 2025.
In addition, the group is looking to expand into the US.
Launched in 2014, Farmer J benefited for a £5.5m investment from transatlantic venture capital firm Beringea earlier this year, which it says will be used to expand the brand.
