Gordon Ramsay Restaurants trading 'ahead of forecasts' as it prepares to push forward with expansion
In its latest financial report, the operator says it acted decisively in the face of the Coronavirus outbreak, and was able to support its staff.
It adds that despite trading post lockdown being ahead of what was originally expected, the full impact of the pandemic on the company is not yet known.
Consolidated turnover for the year ended 31 August 2019 grew 2.1% to £54.7m, driven by strong underlying like for like sales, digital investment and guest retention.
Profit before tax was £15.2m, up from £500,000 in 2018.
It was reported last month that Ramsay's ambition to 'create a billion-dollar dining proposition' had been undented by the Covid-19 pandemic, with the chef laying out plans to open 50 new sites across the UK.
This latest report sets out plans to roll out the group's Bread Street Kitchen concept across the UK.
It also outlines intentions to open a third Street Pizza will open in Southwark this year; and launch new sites under its Street Burger concept both inside and outside London.
Ramsay's current UK portfolio is concentrated in the capital, and also includes a number of singular, high-end restaurants such as the three Michelin-starred fine-dining flagship Restaurant Gordon Ramsay in Chelsea; Petrus in Belgravia; and Lucky Cat in Mayfair.
Of his global concepts, a second Hell’s Kitchen is opening in Dubai this year (the first is in Las Vegas); and a Pub and Grill is scheduled to open in Macau this autumn.
A license agreement in France has also been renewed for a further five years.
