PizzaExpress, the nation’s most iconic pizzeria brand, today announces its full year (FY) results for the 52-week period ended 28 December 2025 and provides an update on trading for the 13-week period ended 29 March 2026 (Q1).
Note: The results presented are for PizzaExpress Group (Wheel Bidco) comprising dine-in and delivery in the UK and Ireland, International operations and Retail.
Reflecting on FY25 and Q1 2026, the year has been one of transformation and innovation for the brand, bringing the best of PizzaExpress to the fore with record taste and service scores and positive year on year movement in Net Promoter Scores. Despite the highly competitive trading conditions driven by the persistently challenging macroeconomic environment, PizzaExpress continued to outperform the casual dining market across the UK & Ireland.
Financial highlights:
- Building on the momentum delivered through Q4 FY25, trading in Q1 FY26 has been extremely positive. The Group delivered total sales of £112m (Q1 2025: £108m), driven by like for like sales growth in the UK of +5%.
- The brand saw a +30% increase in adjusted EBITDA Q1 FY25 to Q1 FY26 (Q1 2026 £12m vs Q1 2025 £9m)
- FY25 saw the Group’s full year revenue broadly flat at £440m (2024: £442m) despite the challenging macroeconomic environment.
- Full year adjusted EBITDA was up + 6.3% in FY25 improved to £53m (2024: £49m)
- As reported previously, in May 2025, the Group successfully completed its debt refinancing, with this resulting in a reduction of the Group’s debt to £280m.
- In addition, the Group reached agreement with the noteholders to extend the maturity of the senior secured notes until September 2029 and with its banks to extend the maturity of its £30m RCF facility until March 2029.
Paula MacKenzie, PizzaExpress CEO, said: “The positive momentum we have seen in Q1 of 2026 has been exciting and rewarding for the full team that delivered it. It follows on what was a positive 2025 for our business. Our teams remain laser-focused on realising the full potential of the PizzaExpress brand across our restaurant, delivery and retail channels.
“The delivery of these excellent results, amidst a very challenging sector backdrop, is further proof that our strategy of investing in our core estate, digital capabilities and omnichannel operational excellence is working and I’m incredibly proud that in our 60th year and beyond we continue once again to outperform the casual dining market across the UK & Ireland. The biggest thank you goes to our brilliant customers and fabulous teams who go out of their way each and every day to delight.”
Operational highlights:
- In March 2026, the Group utilised its in depth knowledge of the UK consumer, to launch Mac & Wings, a delivery-first concept, nationwide.
- Mac & Wings marked a further step in PizzaExpress’ strategy to meet customers where they are, introducing exciting new concepts without compromising the core PizzaExpress experience.
- The momentum of innovation has continued into Q2, with the opening of PizzaExpress Brixton, a new smaller QSR-style location, featuring a self-ordering system, allowing pizza fans to enjoy their favourites whenever and however they like.
- In 2025, PizzaExpress also celebrated reaching the milestone of 4 million highly-engaged members in the PizzaExpress Club app. This was bolstered by the successful launch of the Loyalty 2.0 offering in Q2 2025, further strengthening the industry-leading loyalty programme.
- The brand’s commitment to investing in its core estate has continued, with seven new UK restaurants having opened in 2025 alongside two international restaurants in Hong Kong.
- PizzaExpress also continued to pursue franchise opportunities in markets with exciting growth potential, and at the end of 2025 had 90 franchise sites, including 12 new restaurants that opened in the year across India, Saudi Arabia, Singapore, Indonesia and Turkey.
- PizzaExpress’ retail range, remains the number one chilled grocery pizza brand, also continued to go from strength to strength with the introduction of the elevated new ‘Specials’ range in September 2025 in Sainsbury’s.
