In its latest financial results for the year ended 26 May 2024, SL6 Ltd, which owns Blumenthal’s three Michelin-starred The Fat Duck restaurant and his one-star Hinds Head pub, both in Bray, reported a post-tax loss of £2.1m.
This follows a £1.4m loss in its 2023 results.
Writing in its accounts, director Ronald Lowenthal blamed the impact of inflation ‘in all elements of the supply chain’ alongside wage inflation.
Echoing comments he made in last year’s results, he added that the group ‘invested in its customers by not passing on the entire inflation burden to them’, whilst understanding that this would ‘affect profitability’.
Turnover for the year fell slightly from £9.5m to £8.9m.
Gross profit also dropped, falling from £7.2m at a 76% margin in 2023 to £6.6m at a 74% margin in 2024.
Lowenthal added that the business expects operating conditions to ‘remain difficult’, specifically citing the challenges around the increases to the National Minimum Wage, which came into effect in April.
However, he adds that the group is ‘well placed to consolidate the businesses and ready to navigate future challenges’.
“The company will concentrate on strengthening its brands by focusing on delighting our customers and whilst driving efficiencies throughout the group,” he said.