The steakhouse group, which operates 10 sites in the UK, seven of which are in London, as well US restaurants in New York and Chicago and a single site in Dublin, Ireland, has reported turnover of £100.4m for the year ended 31 December 2024.
It marks an 11.8% rise on the £89.8m reported the year before, which is credited to continued growth in like-for-like sales with all restaurants ‘trading at record levels of sales and profitability’.
Underlying EBITDA increased by 7.6% to £9.9m (2023: £9.2m) in the year having adjusted for the initial losses from the launch of the Chicago restaurant.
However, the group slipped from a pre-tax profit of £1.5m to a pre-tax loss of £1.7m over the period.
Writing in the report, Hawksmoor CFO Alex McLauchlan said the material movements on the group’s balance sheet relate to fixed asset additions of £7.79m, the majority of which was connected to the opening of the Chicago restaurant, and a movement of external bank debt following a refinancing in June 2024.
“The group has built an industry-leading brand, with highly profitable sites, strong cash generation and an excellent reputation with customers and staff, which the directors believe will position it for success,” McLauchlan added.