Tortilla H1 FY26 slides: system sales hit £100M, UK LFLs surge 13.9%

Tortilla Mexican Grill plc reported its H1 FY26 and FY25 results on October 1, 2026, highlighting a strong performance under founder CEO Brandon Stephens. The company's shares rose 0.69% to $72.50, nearing the upper range of its 52-week trading period. Tortilla achieved a milestone, with last-twelve-month system sales surpassing £100 million for the first time.

Group revenue increased 5.9% year-over-year to £38.5 million, while like-for-like (LFL) revenue growth accelerated to 13.3%, more than doubling the industry benchmark. Adjusted EBITDA turned positive at £0.5 million, marking a significant improvement from the prior year's loss. The company's LTM annual average unit volume (AUV) reached £1,013,000, up from £901,000 in H1 FY25.

UK operations, responsible for over 90% of revenue, delivered exceptional results, with revenue up 7.3% and LFL growth of 13.9%. France showed marked improvement, with store closures reducing the operating locations from 13 to 8, but LFL growth increased to 18.2% and 24.4% in Q3. Delivery strategy expansion to multiple platforms, including Deliveroo and Just Eat, resulted in delivery sales surging by approximately 50%, while in-store sales grew from 5% to over 10% LFL growth.