CityAM reports that Gordon Ramsay managed to keep sales progressing across his Restaurant Group in its last financial year to August 2014, with sales from new openings in South London helping to offset the end of the contract at Claridges.
Turnover at the total of 26 restaurants in the Group was slightly down to £44.7m from £44.8m, the previous year, according to accounts filed by holding company, Kavalake.
The group described the performance as “solid”, whilst “significant investment in central management costs” had been made in anticipation of expansion.
Ramsay said his Las Vegas burger joints and London restaurants had enjoyed an “excellent trading performance”.
The Group also narrowed its operating loss to £1.5m: the operating loss the previous year was primarily due to an exceptional onerous lease provision at York & Albany not a legal case.
Ramsay currently holds seven Michelin stars including three for his flagship restaurant in Chelsea, and has been busy with openings: from Union Street Cafe in September 2013, followed by London House in Battersea in 2014, and since August 2014 sites have opened in London, Hong Kong and Atlantic City. A Bread Street Kitchen opens shortly in Singapore.