Gordon Ramsay Group reports small sales dip but losses fall too

Gordon Ramsey Group sees turnover across its 26 restaurants slip slightly in the year to August 2014 to £44.7m from £44.8m the previous year.

Operating loss has fallen from £5.5m to £1.5m after making an onerous lease provision the previous year on its north London gastropub the York & Albany.

Gordon Ramsay said the performance was “solid” in light of the closure of his restaurant in Claridge’s and “significant investment in central management costs as we prepared for our expansion in the 2014/2015 financial year”.

Since the year-end, the company has opened five restaurants in London, Hong Kong and Atlantic City and will open a Bread Street Kitchen in Singapore next month.