Hawksmoor restaurants report record sales and profitability
Hawksmoor has said its restaurants are reporting record sales and profitability off the back of a strong post-pandemic recovery.
The steakhouse restaurant group saw turnover increase 107% to £73.9m in 2022, partly driven by its new openings in Liverpool and London's Canary Wharf.
Underlying earnings rose to £7m, up from £2.9m in 2021. Pre-tax profits increased to £282,000, up from a £2.3m loss in 2021 when coronavirus restrictions impacted trade.
In 2023, Hawksmoor opened its first restaurant in Dublin, Ireland, and has signed a lease to open its second US site, in Chicago, in 2024.
The company's 2022 accounts state: "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 Huw Gott and Will Beckett in London in 2006. It operates seven sites in London and one each in Edinburgh, Manchester, Liverpool, Dublin, and New York.
