As reported by The Times, the group saw sales rise 40% to £134m in the 70 weeks ended December 2024.
The extended reporting period allows the group’s UK business to be brought in line with its international counterpart following the reorganisation, which was announced in February this year and completed with the support of the private equity firm Lion Capital.
Under the deal, both Ramsay and Lion Capital hold an equal 50% stake in a new holding company that’s headquartered in London.
According to The Times, the group’s UK sales rose by 3% to a record £98.4m when adjusted to reflect performance over 52 weeks, up from sales of £95.6m generated in the year to September 2023.
The business made an operating loss before deductibles of £7.3m over the 70-week period, which was in part owing to the preparation costs for its new restaurants at 22 Bishopsgate, as well as the costs of closing some sites.
Earnings when adjusted for exceptional items came to £12m, compared with £8.3m for the year to September 2023.
“We saw strong sales and underlying earnings last year despite continuing pressure on costs and people,” says Andy Wenlock, chief executive of Gordon Ramsay Restaurants.
“This has given us confidence as we launch into a transformational phase for the group.”
Lion Capital provided an undisclosed amount of new funding as part of the merger, having made an initial investment into the US business of $100m in 2019.
“Our UK investment is paired with a major focus on disciplined global expansion, including in the United Arab Emirates, India and Asia, as well as continued collaboration with partners in North America, Canada and Mexico,” Wenlock adds.
“While the economic backdrop features some uncertainty and challenge, we are unafraid to be entrepreneurial.”
Gordon Ramsay’s restaurant empire now comprises 34 restaurants in the UK and a further 63 sites across the globe.