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Ramsay restaurants report profit surge

17 November 2005
Ramsay restaurants report profit surge

Chef and TV personality Gordon Ramsay's restaurant empire's latest trading figures suggest his kitchens are trading in heaven rather than hell.

Gordon Ramsay Holdings, which includes the group's first six London restaurants, boosted its pre-tax profit in the year to 31August by a hefty 37% to £3.7m (2004: £2.7m).

Group turnover also increased, up 3% from £27.5m in 2004 to £28.4m.

The figures do not include the group's restaurant consultancies in Dubai and Tokyo, or Knightsbridge restaurant Pengelley's.

Maze, which opened this May in the London Marriott Hotel Grosvenor Square, is also not included in the results, but chief executive Chris Hutcheson said the restaurant has been in profit from its second month of trading and is currently turning over about £100,000 a week.

The star performer remained Gordon Ramsay at Claridge's, which increased its profit by £300,000 to £1.7m.

Losses at the Boxwood Café, Ramsay's take on a US-style diner, were down to £27,125 compared with £55,465 last year.

Hutcheson said the restaurant was now trading in the black and makes a monthly profit of about £17,000. "Boxwood is now firmly in profit for September and October, and the food costs and staffing costs have been brought into line," he said.

Gordon Ramsay Holdings 2004-05

TurnoverPre-tax profit
2005\*20042005\*2004
Royal Hospital Road£2.9m£2.7m£484,201£421,892
Claridge's£6.9m£6.7m£1.7m£1.4m
Connaught£5.96m£5.8m£391,624£159,901
Savoy£6.1m£5.6m£597,333£432,931
Boxwood£3.2m£3.5m-£27,125-£55,465
Pétrus£3.3m£3.2m£515,789£289,842

** 2005 figures are unaudited*

By Angela Frewin

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