Jamie Oliver Group's Profit Dips Despite Turnover Rise in 2024
The Jamie Oliver Group has reported a slight dip in pre-tax profit for 2024, despite an increase in turnover. The group's profit fell to £3.1m from £3.5m, while turnover rose to £28.5m from £27m. Nigel Paul presented the group's financial statements for the year.
The group's franchise turnover saw a minor increase to £3.7m from £3.6m. Meanwhile, the average number of employees rose significantly from 166 to 235. However, income from production declined considerably, dropping to £2.1m from £3.7m. Cookery school income, on the other hand, rose to £1m from £986,433.
Turnover from Jamie Oliver's media interests, such as TV and digital production, book publishing, and endorsements, fell to £17.6m from £18.3m. Notably, turnover from owned and operated restaurants surged to £3.6m from £335,983.
Despite the overall increase in turnover, the Jamie Oliver Group's pre-tax profit fell slightly in 2024. The group's franchise and cookery school businesses showed growth, while media interests and owned restaurant turnover saw changes. The group continues to operate around 70 restaurants worldwide through franchise partners.
