Turnover increased 10.8% from £53.7m to reach £59.4m, while like-for-like sales were up 10.4% for the year ended 31 December 2003.
Adjusted EBITDA was a record £5.7m for the company, but losses before tax widened to £8.7m, compared with a pre-tax profit of £4.1m in 2022.
The group invested heavily during the period and opened two large London restaurants, seafood restaurant Manzi’s, which opened in Soho in June, and The Wolseley City, which launched in November.
“The directors are grateful for the support of loyal guests and are proud of hard-working colleagues in what has been a very positive trading year despite the backdrop of significant external challenges to the business form strikes, increasing employment costs, inflationary pressures, rising interest rates and the continued impact of the global energy crisis,” the company says in its accounts.
“The group continues to strive to delivery hospitality from the heart, creating places where people feel they belong.
“In an uncertain economic climate, we will focus on the things we can influence, namely the experience we create for our guests and the culture we foster for our staff.”
The Wolseley Hospitality Group, which is owned by Minor Hotels, operates nine restaurants in the capital, including The Wolseley, The Delauney, Brasserie Zedel, Colbert, Fischer’s, Belanger, and Soutine.
It says that it intends to expand its footprint and is looking to continue to open new venues “both domestically and internationally”.
In June last year Minor Hotels brought in advisors from AlixPartners to advise on cost management issues at The Wolseley Hospitality Group.
In September, Baton Berisha stepped down from his role as chief executive at the business after two years with the business. No replacement has been announced by the company so far.
