Rosa's Thai posts £42.6m over nine months and says it has the capital to grow

Rosa's Thai has posted turnover of £42.6m and adjusted EBITDA of £2.9m for the nine months to 28 December 2025, Propel reports. The shorter period brings it into line with Arcturus Group, the platform TriSpan has built for the brands it backs, including Mowgli.

The numbers - On a comparable 12-month basis, turnover grew 8.6% to £55.6m - 46 sites, with a first opening in the UAE through franchise partner Eathos, trading ahead of expectations - No new UK sites in the period: the group says it looked at several but chose to be selective - A refinancing with OakNorth provides a £9.25m term loan and a £1.5m capex facility, not yet drawn

Cost pressure Chief executive Sarah Hills said the cost of employing team members rose 10% because of the minimum wage and employer national insurance, and that revenue growth in that climate reflected the experience the teams are delivering. The group also points to a Google rating of 4.83 out of 5 as its guest-experience yardstick.

What it means for groups: this is the disciplined-growth playbook in 2026. Keep growing revenue through a 10% people-cost rise, test new territory through a franchise partner rather than your own capital, and keep a committed but undrawn facility in reserve so the 2027 pipeline is funded before the sites are signed.