By Daily Mail City & Finance Reporter
21:50 12 May 2023, updated 21:50 12 May 2023
Turnover trebled across Gordon Ramsay’s restaurant empire last year – but the celebrity chef still posted a loss of £504,000.
Gordon Ramsay Restaurants reported record revenues of £78.9m for the 12 months ending August 2022, up from £26.2m the year prior.
This reflected the business’s post-Covid recovery as it enjoyed ’12 months of uninterrupted trading in the UK’.
The pandemic previously brought Ramsay’s business operations to a halt and forced his restaurants to make hundreds of jobs cuts as losses hit almost £6.5m. Before Covid, Gordon Ramsay Restaurants recorded revenues of £55m.
Losses have since fallen significantly and the business pressed ahead with expansion plans last year by opening seven restaurants. The group runs 36 venues in the UK, and also boasts operations in countries including Malaysia, the United Arab Emirates and Singapore.
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Andy Wenlock, Ramsay’s business partner, said ‘the group remains committed to and on course with its growth strategy both in the UK and internally’. The highest-paid director took home £517,000 in 2022, up from £372,000 in 2021.
Ramsay, 56, the group’s main shareholder, vowed to provide financial support ‘in the event of any severe downturn’.
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