Hawksmoor has record year, despite owner's £9m pre-tax loss

14 September 2017 by
Hawksmoor has record year, despite owner's £9m pre-tax loss

Last year, Hawksmoor made a pre-tax profit of £4.2m making it a record year for the brand despite its owner, the Underdog Group, going in to the red during the same period.

The group had a pre-tax profit of £4.2m compared to £3.9m in 2015.

The record year has been credited to the business' growing popularity and strong performances from the Knightsbridge and Manchester restaurants, which has "helped to offset the additional costs borne from the introduction of the Living Wage."

Owner Will Beckett said: "Hawksmoor had a good year, and I think we've done a pretty good job in holding margin more or less steady this year and only seeing slight increases in labour - we work very hard to keep staff turnover down and I think this offsets some of the wage increases the business has seen. It's fair to say we're working harder than ever on things like recruitment, but so far we haven't experienced many of the problems that are so often discussed in the industry."

Last week it was reported that Hawksmoor's sister brand Foxlow pushed the Underdog Group into the red, with a £9m pre-tax loss last year.

This resulted in the closure of Foxlow in Stoke Newington.

Steakhouse Hawksmoor is located in Piccadilly; Borough Market; Knightsbridge; Seven Dials; Spitalfields; the City of London; and Manchester.

Hawksmoor owner Underdog in £9m pre-tax loss >>

Hawksmoor to open Manchester restaurant in 2015 >>

Hawksmoor owner Underdog Restaurants posts 13% profit increase >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking