Gordon Ramsay Restaurants has reported a 21% rise in group turnover to £95.6m for the year ended 27 August 2023.
The group further reported 12 months of positive like-for-like sales, as well as increases in adjusted EBITDA across its premium, premium casual, and casual concepts.
Loss before tax amounted to £3.4m, while adjusted EBITDA stood at £8.3m for the period – the group’s highest ever recorded EBITDA.
New financing facilities were arranged in May 2022, with £13.4m of capital invested into new restaurants, refurbishments, and maintaining the existing estate.
The group opened five new UK restaurants during the year, including Street Pizza and Street Burger in Edinburgh, Bread Street Kitchen & Bar in Battersea Power Station, and the reopening of Pizza East in Shoreditch.
The group also opened Lucky Cat Manchester in summer 2023, which had a strong opening and has continued to trade profitably since.
The Savoy Grill opened after refurbishment in April 2023 and has seen consistent sales growth since.
The principal focus for the near term is the opening of five outlets under different brands at London’s 22 Bishopsgate, creating a culinary hub.
The directors also plan further openings for Pizza East both in the UK and internationally.
Gordon Ramsay Restaurants has an interest in 56 restaurants, including 34 in the UK operated by group companies and 22 licenses locations in Europe, the Middle East, and Asia.
The UK restaurants include ‘super premium’ Restaurant Gordon Ramsay, three sites at the Savoy Hotel, and two Lucky Cat locations.
The casual dining and premium casual concepts include Street Pizza, Street Burger, Bread Street Kitchen & Bar, Gordon Ramsay Plane Food, and Heddon Street Kitchen.
