Home / Business and Economy / Ramsay's UK Restaurants Narrow Losses Amid £101M Sales Surge
Ramsay's UK Restaurants Narrow Losses Amid £101M Sales Surge
2 Oct
Summary
- UK restaurant sales topped £101 million for the first time, despite continued losses.
- The group narrowed losses to £5.8 million from £9.4 million the previous year.
- Global sales increased by 7% to a record £151.8 million, driven by international growth.
Gordon Ramsay's UK restaurant group reported its sales exceeded £100 million for the first time, reaching nearly £101 million. Despite this achievement, the business concluded its last fiscal year with narrowed losses of £5.8 million, an improvement from the £9.4 million loss reported previously. The company, which operates 34 outlets including notable establishments like the Savoy Grill and Pétrus, attributed its performance to factors like the Netflix documentary 'Being Gordon Ramsay' and the opening of its 100th global restaurant.
Globally, the Gordon Ramsay Restaurants entity, encompassing 103 locations, saw a 7% year-on-year increase in sales, totaling a record £151.8 million. This growth was bolstered by the inclusion of Ramsay's US business, now co-owned with Lion Capital, and resilient performance at established sites. Underlying group profits rose by 12% to £14.4 million, reflecting successful new openings and licensing partnerships across various international markets. The group did not issue a dividend to shareholders.
