Salt Bae restaurant reports 44% profit boost

20 February 2024 by
Salt Bae restaurant reports 44% profit boost

Profit before tax soared to £3.3m at Salt Bae's Nusr-Et steakhouse in London's Knightsbridge, accounts filed with Companies House have revealed.

Nusret UK Limited's trading update for the year ended 31 December 2022 reported turnover of £13.6m, up from £8.2m in 2021, while profit before tax jumped from £2.3m to £3.3m.

Nusr-Et London launched in September 2021 and marked the group's first UK opening, following restaurants in Turkey, Dubai, Abu Dhabi and in the US.

For a time, Nusr-Et served a golden giant tomahawk steak costing £1,450, which attracted Animal Rebellion activists to the restaurant in December 2022.

Over the past year director Nihan Turgay said the restaurant has sought to improve energy efficiency by turning off central heating systems after closing or during peak hours when heating demand is lower.

It had also limited the operational times of the air curtain and turned off lights during closing hours.

The restaurant significantly increased staff count, with figures rising from 55 to 93, while total wages and salaries increased from £2.1m to £3.7m.

Nusret UK Limited added the principal risk to its business is "competition from other restaurants".

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