Jamie Oliver's business empire boosted by Jamie's Italian
Turnover at Jamie Oliver's two principal companies has rocketed by 55% to £37.7m in 2009, according to The Times](http://www.thetimes.co.uk/tto/news/).
The paper said that the biggest success in Oliver's group of businesses, whose annual accounts will be filed at Companies House this week, was his Jamie's Italian chain of restaurants, which saw turnover leap from £3.74m to £19.4m after adding four restaurants.
The chain, which has net debt of £5.4m, also went from a £924,000 loss, owing to set-up costs, to a pre-tax profit of £1.66m. The group predicts "a substantial increase in profits" this year.
Jamie's Italian has seen seven openings this year, including sites at Covent Garden, Cambridge and Glasgow, taking the total to 14. Outlets will open in Birmingham and Dubai at the end of this year.
Jamie Oliver Holdings, which deals in books, sponsorship work, programmes for Channel 4 and Fresh One, the chef's production company, saw turnover rise 7.7% to £18.3m. Pre-tax profits fell by 15.9% to £5.72m, due mainly to bad debts, the paper said.
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By Neil Gerrard
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