Gordon Ramsay’s UK restaurants cut losses as sales surpass £100m
Gordon Ramsay’s UK restaurant business made a smaller loss last year even as sales passed £100m for the first time. The figures show that higher sales have not yet translated into a UK profit, while the group says improving profitability remains a priority.
The UK business, which runs 34 restaurants including Savoy Grill, Pétrus and Lucky Cat, recorded a £5.8m loss, down from £9.4m, as sales rose 3% to almost £101m. The company said trading benefited from a Netflix documentary about Ramsay and the opening of its 100th outlet at 22 Bishopsgate. Across the wider group, sales increased 7% to a record £151.8m and underlying profits rose 12% to £14.4m; no dividend was paid.
- UK sales topped £100m, but the business remained in the red.
- Losses narrowed from £9.4m to £5.8m.
- The global group reported record sales and higher underlying profits.
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Gordon Ramsay is a British chef and television personality who runs a large restaurant business. His UK operation includes 34 restaurants, ranging from fine dining establishments like Savoy Grill and Pétrus to more casual venues such as Lucky Cat.
The UK arm of Ramsay's restaurant business has been losing money in recent years, despite generating significant sales. The costs of running these restaurants have exceeded the sales revenue they generate.
These financial results matter because they show whether Ramsay's strategy of operating many restaurants across the UK can become profitable. The performance of such restaurant groups is also relevant to understanding how the UK restaurant industry is faring.
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Originally published by The Guardian as “Gordon Ramsay’s UK restaurants stay in red despite sales topping £100m”.