Gordon Ramsay Holdings revenue to hit £100m by 2010

24 October 2008 by
Gordon Ramsay Holdings revenue to hit £100m by 2010

Revenue from the Gordon Ramsay empire will hit £100m by 2010, the chief executive of Gordon Ramsay Holdings (GRH) claimed today.

Long awaited accounts for GRH, filed with Companies House today, show that turnover from UK restaurants grew 21% to £38.1m in the year to the end of August 2006. The business made an £816,717 pre-tax profit.

Speaking to the London Evening Standard, Chris Hutcheson said turnover grew strongly again in 2007 to reach £46m, with profits of £3.6m

On top of that, the restaurants in New York, Florida and Los Angeles are generating $40m (£25m) a year, now boosted by the strengthening dollar.

Total income for all the restaurants, the TV shows and other Gordon Ramsay earnings will be more than £80m this year, Hutcheson said.

The re-opening of the Savoy Grill and the relocated Petrus in 2009, combined with new restaurants in Doha, in Qatar, and Melbourne, will push this over the £100m mark in two years, he predicted.

"Next year will be stunning for us because everything is firing on all cylinders," Hutcheson said.

GRH, which is facing a fine over the late filing of its accounts to Companies House, now runs 25 restaurants and pubs in London, America, Europe and Asia with plans for up to four more by 2010.

Apart from a slump in takings at The Narrow, the Gordon Ramsay pub in Docklands, and a 5% drop in private dining bookings, the restaurants are riding out the economic turmoil, Hutcheson said.

The single highest earning London restaurant was Maze in Grosvenor Square with a turnover of more than £10m. Claridges was most profitable, generating £2m a year.

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By Daniel Thomas

E-mail your comments to Daniel Thomas here.

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