Jamie's Italian revenue surges by more than 30% in 2012

03-Jun-2013 - Last updated on 27-Aug-2024 at 17:43 GMT

Jamie Oliver last year opened a large restaurant development, including a Jamie's Italian, at Gatwick Airport

Jamie Oliver's chain of Italian restaurants had a successful 2012 according to the company's latest financial results, which show that revenue surged to nearly £94m last year, helping to drive a 7.5 per cent increase in net profits.

In the year ending 30 December 2012, Jamie's Italian revenue increased to £93,869,992 - 30.3 per cent up on the previous year.

The increase in revenue helped produce net profit before tax of £7,763,224. That figure takes into account pre-opening costs and the 1 per cent of net sales which are paid as royalty payments to Jamie Oliver Enterprises.

Confident

A statement from the company, which has recently celebrated its fifth anniversary, said that the team were confident of being able to continue to generate jobs and deliver a high-welfare, value for money offer which continues to support British producers.

"General economic conditions and consumer confidence in the UK remains fragile and recovery will be gradual. The senior management team are confident in being able to deliver a robust performance in 2013 with special emphasis on providing outstanding quality dishes, excellent service and value to our customers, through an efficient operating model."

Jamie's Italian opened six new restaurants and one delicatessen in the UK last year, taking its total number of sites to 31 by the end of 2012. Since then new restaurants have been launched in Aberdeen and Greenwich which the company has said are both 'trading above expectations'.

Internationally Jamie's Italian opened a site in Dublin taking the number of its managed sites outside the UK to three. In addition new franchise agreements were signed to expand the brand into Hong Kong, China, Singapore and Russia. Two further franchise agreements have since been signed in Turkey and Brazil.

Jamie Oliver Holdings

Jamie Oliver Holdings, which controls the celebrity chef's TV production company, book sales and licensing and sponsorship deals, also enjoyed a successful 2012. It today announced an 8.4 per cent rise in pre-tax profits in the year to 31 December 2012.

Pre-tax profits topped £9m in 2011 but last year reached £9,762,882.

The successful figures were driven by strong book income from both Jamie's 30 Minute Meals and Jamie's 15 Minute Meals titles and TV production company Fresh One Productions which made both Jamie Oliver and non-Jamie Oliver shows.

John Jackson, chairman of the Jamie Oliver Group of Companies, said: "Both businesses performed well in challenging trading conditions.

"In 2013 we will continue our international restaurant expansion and delivering outstanding products with real added value, great customer service and a range of delicious and nutritious meals as well as recipes to further strengthen and enhance the relationship we have with our valued customers."

In 2013 Jamie Oliver will publish his 15th book - Save with Jamie - which will be accompanied by a new TV series on Channel 4 to air in September.