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Hawksmoor's pre-tax profits dip in 2017 despite earnings holding steady

12 November 2018 by
Hawksmoor's pre-tax profits dip in 2017 despite earnings holding steady

Steak and cocktail chain Hawksmoor saw a dip in pre-tax profits despite a marginal growth in earnings in the firm's full-year results for 2017.

Turnover for the year increased from £34m in 2016 to £38.8m in 2017, while EBITDA experienced a slight uptick - rising from £5.4m to £5.5m.

However pre-tax profits dropped year-on-year, falling to £3.4m from £4.2m.

The period had seen the expansion of the Hawksmoor empire with the opening of a new Borough Market site in February 2017.

Its first Scottish site, Hakwsmoor Edinburgh, opened in July this year, bringing the firm's total number of sites to eight restaurants and one bar.

In the strategic report for Underdog Restaurants Ltd, Hawksmoor's directors confirmed they "expect the results to continue to reflect the business's growing popularity".

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