The Alchemist returns to profit
Due to ‘strong’ trading levels, The Alchemist was able to pay off its Covid-19 related payments to HMRC.
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The Alchemist Bar and Restaurant has reported a profit after tax of £2.34m for the year ended 31 March 2022 compared with a loss of -£5.51m the prior year.
The results saw sales of £55m, more than three times higher than the year prior despite the beginning of the financial year being hit with Government-imposed Covid-19 restrictions.
Due to “strong” trading levels, The Alchemist was able to pay off its Covid-19 related payments to HMRC.
The Alchemist also opened a new bar and restaurant in Edinburgh in St James quarter in October 2021, stating that trading has been “extremely positive with excellent customer feedback”.
The hospitality business has recently announced another site in Scotland which is currently set to open in Glasgow close to the recently redeveloped Queen Street Station.
It said that there will be “several fighter opportunities in the UK” in line with its growth strategy, with two further sites expected in the next financial year.
