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Gordon Ramsay Restaurants has revealed record revenues of £78.9m for the year ending August 2022, an increase from £26.2m the previous year.
The group attributed its performance to its post-Covid recovery as it enjoyed “12 months of uninterrupted trading” in the UK after the pandemic had brought operations to a stop, forcing it to make hundreds of job cuts and hit almost £6.5m in losses.
Prior to the pandemic, Ramsay’s restaurants had recorded revenues of roughly £55m.
However, despite the celebrity chef tripling its turnover last year, the group still experienced a loss of £504m, which have “significantly” narrowed.
As a result, the business went ahead with its expansion plans in FY22 by opening an additional seven restaurants.
Gordon Ramsay Restaurants currently operates 36 venues in the UK alone, and also has operations abroad in places including Malaysia, the United Arab Emirates and Singapore.
Andy Wenlock, CEO of Gordon Ramsay Restaurants, said: “The group remains committed to and on course with its growth strategy both in the UK and internally.”
Meanwhile, Ramsay, the group’s main shareholder, said he will provide financial support “in the event of any severe downturn”.
