Strong post-pandemic recovery pushes Hawksmoor to ‘record sales and profitability’
In its latest accounts covering the year ended 31 December 2022, the steakhouse group reported a turnover of £73.9m, a 107% increase on the 2021 figure of £35.7m.
Alongside its recovery from the Covid lockdowns, which significantly impacted the previous two years, the group credited the opening of sites in London’s Canary Wharf and Liverpool as a key driver of sales.
Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to £7m over the period (2021: £2.9m) with a pre-tax profit of £282,000 reported, up from a £2.3m loss in 2021.
Writing in the group’s accounts, finance director Alex McLauchlan said: “The group has built an industry-leading brand, with highly profitable sites at the date of signing, strong cash generation and an excellent reputation with customers and staff, which the directors believe will position it for success.
“The group has a strong cash position and has access to additional debt facilities as required.
“The restaurants experienced a strong recovery post pandemic and are at record sales and profitability.”
Hawksmoor was founded by Will Beckett and Huw Gott in 2006. The group currently operates a total of 12 restaurants including seven in the capital and one each in Edinburgh, Manchester, Liverpool, and Dublin.
It also operates a single restaurant New York.
A second US outpost in Chicago is set to launch next year.
