"Accounts for Jamie Oliver Holdings (JOH) show pre-tax profits dropped from £3.4 million to £2.4 million in 2024, despite a 6% rise in sales to £28.6 million. The results reflect a mixed year for the celebrity chef's media and restaurant group, which saw strong growth in hospitality offset by lower income from media and brand deals. JOH encompasses Oliver's television and publishing ventures, endorsements, cookery school, and restaurant operations, as well as licensing and franchise income from international Jamie's Italian and Jamie's Deli outlets."
"Restaurant income rebounded sharply, rising to £3.6 million from just £336,000 the year before, following the launch of Oliver's first directly operated restaurant since the collapse of his UK Jamie's Italian chain in 2019. Franchise income from overseas restaurants also increased modestly to £3.8 million. However, royalties, endorsements and TV production revenues fell 10% to £19.8 million, reflecting the end of major deals in 2023."
"The group, which achieved B Corp certification in 2019, was led by chief executive Kevin Styles until December 2024. No successor has been appointed, and the business is now overseen by its operating board. A spokesperson said the group plans to open 12 new restaurants internationally this year, including its first sites in Oman and Greece. It has also tripled the capacity of its cookery school through a new partnership with John Lewis, opening its first in-store site on Oxford Street earlier this year."
Jamie Oliver and his wife Jools paid themselves £2.5 million in dividends for the second consecutive year, while JOH's pre-tax profits fell from £3.4 million to £2.4 million in 2024. Sales rose 6% to £28.6 million overall. Hospitality revenue grew strongly, with restaurant income rebounding to £3.6 million and franchise income rising to £3.8 million. Royalties, endorsements and TV production revenues decreased 10% to £19.8 million following the end of major deals. The group was B Corp certified in 2019. Kevin Styles left as CEO in December 2024; no successor has been appointed. Plans include opening 12 international restaurants and expanding the cookery school.
Read at Business Matters
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