Dishoom expects full profit recovery in 2023

Reporting accounts for last year, the Indian restaurant group grew turnover by 64% to £94.9m (2021: £57.6m), driven by uninterrupted trading and new openings.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was £9.4m (2021: £4.8m), while profit before tax was £4.78m (2021: £1.51m).

The company said during FY22, the sector continued to recover from Covid, and although profitability was not yet at pre-pandemic levels, there has been an improvement in underlying profit margins against FY21.

Directors expect profitability to return to pre pandemic levels during FY23.

During 2023, Dishoom said volumes have continued to grow and return to previous levels of demand in existing restaurants, and delivery at home channels have increased revenues vs FY22.

A dividend of £3.7m was paid to shareholders or the period.

Charitable donations were made totalling £317,000, with the company continuing to donate meals to feed children in UK and India.

During the year Dishoom opened a new restaurant in Canary Wharf and continues to evaluate potential new openings.

Earlier this month it was revealed that Dishoom’s forthcoming Brighton site will feature an ‘all-new offering’​​ from the group and open under a new name taken from the bars found in every one of its restaurants.

Called The Permit Room, it is expected to open at 31a and 32 East Street in The Lanes later this year and will mark the Indian restaurant group’s first regional opening in the south of the country