Heston Blumenthal’s businesses are in “negotiation on several new projects” as they look to bounce back from a difficult year.
Accounts for several of the chef’s businesses, including the flagship three-Michelin-starred Fat Duck restaurant and one-Michelin-starred Hinds Head pub, both in Bray, Berkshire, two-Michelin-starred Dinner by Heston in the Mandarin Oriental Hyde Park, London, and his television production arm, saw post-tax losses more than double to £1.7m in the year to 31 May 2018.
In results filed for parent company Snail Porridge directors said: “The pipeline of opportunities remains strong and the group is in negotiation on several new projects that will bring significant additional income to the group. The new opportunities will continue to showcase the group’s capability to deliver exceptional restaurant experiences and unique food product innovation.”
The year’s losses had been increased from £700,000 in 2017 as turnover fell from £12.8m to £12.4m
Directors have said the business is in a period of transition with new business, increased profitability and efficiencies expected to deliver better results in 2019.
Earlier this year financial results for the Fat Duck showed a dip in profits to £297,788 in the year to May 2018 despite turnover increasing to £6.6m.
A spokesperson declined to comment on the details of “confidential negotiations on new projects”.