Gordon Ramsay back on form as his empire returns to profit

 
Kasmira Jefford
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GORDON RAMSAY has turned his restaurant empire around after a turbulent few years, including a costly feud with his father-in-law, to report a return to profitability.

Kavalake — which includes restaurants such as the Savoy Grill and Gordon Ramsay at Claridge’s – delivered pre-tax profits of £2m in the year to August 2012 after suffering a £4.4m loss in 2011.

Ramsay, who runs the business with managing director Stuart Gillies, said this weekend he was proud of the group delivering its best year to date.

“We have negotiated a difficult path over recent years and I’m delighted all our hard work has paid off in what is still a challenging climate,” he said.

Total sales fell six per cent to £43.1m in the period but UK turnover increased 13 per cent thanks to new openings such as Bread Street Kitchen in the City.

The group has pressed ahead with expansion plans, particularly in the US where it has launched three restaurants in Las Vegas and one in Los Angeles. It also opened two sites in Doha and plans to open more sites in the UK and abroad this year.

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