Burger and Lobster operating profit hits £2m in 2024

Burger and Lobster has revealed that its UK operating profit rose £0.2m up to £2m for the year ended 29 December 2024.

Alongside this, its UK restaurants’ sales amounted to £32.3m, delivering an EBITDA of 10%.

However, the company’s UK turnover fell to £34.1m, down from £36.1m the previous year, while its EBITDA fell to £3.3m, down from £3.6m.

Burger and Lobster also has several franchise partnerships across the Middle East and Asia, which last year helped contribute to a total EBITDA of £4.1m, which was a 14% increase on the previous year.

Overall, the group stated that its “challenging set of results” was down to a tough backdrop in terms of supply chain costs and increased labour costs.

The brand has also announced that Misha Zelman, the founder of Burger and Lobster, will step down as CEO and instead be a non-executive director on the board.

Subsequently, Dino Sura, currently managing director for the brand’s UK and US sites will take over as global CEO, with Zelman remaining hugely close to the brand throughout.

Zelman said: “This is an exciting time for the business and the board and I believe Dino is well equipped to take the brand to its next phase of growth globally after successfully steering the brand through the pandemic, navigating the cost of living crisis, rolling out a full refurbishment programme to match customer expectations and now onto the launch of new sites and territories.”

Sura added: “I’m delighted to be given the opportunity to lead the team and take our unique offering to new audiences in the UK, and further afield. I’m lucky to have an incredibly strong leadership team in place who see the long-term vision for our business.”

“A key priority is continuing to deliver value for our customers, as everyone faces a tough time financially. We held our pricing throughout 2024 and we remain the destination for the best value lobster in London without compromising on quality, which we’re hugely proud of.”