The group, which was launched by Tom Barton and Phillip Eeles back in 2011 and operates 39 restaurants across England and Wales under its core brand, has reported what it describes as ‘exceptional results’ for the first half of 2024, with like-for-like sales growth of 11%.
Profitability is also ahead of forecast, with more than 60% growth in EBITDA performance.
“We’ve had a great first half of this year, which follows a strong performance last year, showing that demand for great quality burgers at great value for money continues to grow,” says Matt Brandon, Honest Burgers CEO.
Earlier this month, Restaurant revealed that Honest plans to relaunch its restaurant near London’s Liverpool Street Station as the first ‘pop up’ site under its new Smashed by Honest concept, with the aim of opening in either late November or early December.
It’s understood that the group intends to establish a dedicated site soon after, likely with a smaller footprint that will suit the concept’s quick service model.
Plans for the new QSR brand have been fuelled by the success of Honest Burgers’ lighter and lower priced smashed burger, and comes amid a growing consumer appetite for smash burgers in general.
The menu will feature an extended range of smash burgers, as well as loaded chips and milkshakes.
Last year, Honest raised close to £3m to support the development and launch of the Smashed concept, which the group says will ‘challenge the big guys’ in the QSR space.
“This is the start of our ambition to quadruple the size of the business by 2030,” says Brandon.
“Our restaurant teams are doing an exceptional job and we’re all excited for the year ahead, especially with the announcement and launch of our new smashed burger concept.”
