The Alchemist reports £644k FY loss after ‘challenging’ trading

The Alchemist Bar and Restaurant Limited has reported a £644k loss for the year to 31 March 2025, compared with a £113k profit the previous year, as turnover fell slightly to £56.2m.

Gross profit for the year was £25.7m, down from £26.2m in 2024. The group said sales across its estate totalled £57.9m, reflecting what directors described as an “extraordinarily challenging time” for the hospitality sector.

The company said weaker consumer confidence was compounded by the success of the England men’s football team during Euro 2024 and by riots following civil unrest in August.

According to directors, gross margins were maintained through “excellent control of food and liquor costs” and that restructuring measures had been taken to protect long-term growth plans in the UK and overseas. Central operations and sales teams were reorganised, while efficiency measures were introduced at site level to improve labour margins and energy use.

These steps were implemented ahead of higher employment costs introduced in the April 2025 budget, according to The Alchemist’s filing at Companies House. The group ended the period with a site EBITDA of £9m and £3m in cash on its statement of financial position.

Nevertheless, the group maintains its confidence in the strength of The Alchemist’s all-day offer and has continued to invest in food and drink innovation, particularly in non-alcoholic and hot beverage ranges. 

Customer satisfaction was also described as “well above average”, with a reported net promoter (NPS) score of 89.

The company also opened a new venue on Eastcheap in February this year, featuring a standalone Negroni bar which has been described as the first of its kind in the UK.