Gordon Ramsay rakes in £60m as TV company takes off
The production company run by Gordon Ramsay has seen a dramatic surge in its turnover as its profit continued to climb during its latest financial year.
Humble Pie Productions, which trades as Studio Ramsay, has posted a turnover of £60.6m for the 12 months to 30 June, 2024, while it reported a pre-tax profit of £7.1m.
The figures compare to a turnover of £43.1m and pre-tax profit of £5.6m the company achieved in the 18 months to the end of June 2023.
The new results, which have been filed with Companies House, come after Gordon Ramsay’s business reported a turnover of £7m and pre-tax profit of £226,459 in the 2021 calendar year.
After a joint venture was signed with Fox in September 2021, the business has been commissioned to produce shows including Trailblazers for the BBC, Gordon’s Food Stars of Fox and Next Level Chef for both ITV and Fox.
The company said the commissioning of these shows has “significantly contributed to the significant increase in the turnover during the period”.
Gordon Ramsay’s company, which has bases in London and Glasgow, added that the decrease in its gross profit margin, from 27 per cent to 18 per cent, was “driven by the increase in productions during the year”.
It also said that “the high margin achieved from the distribution and participation revenue streams have little or no costs of sale”.
The company’s other productions include Gordon Ramsay’s Future Food Stars, Gino’s Italian Family Adventure, and The F Word.
Gordon Ramsay’s empire on the march
In May 2024, Morning Wire reported that Gordon Ramsay’s restaurant empire made a turnover of £95.6m for the year to August 27, 2023, up from £78.9m.
The group’s pre-tax losses also widened from £1m to £3.4m over the same period.
The group has an interest in 56 restaurants – 34 in the UK as well as 22 licensed locations in Europe, the Middle East and Asia.
They include Gordon Ramsay’s flagship restaurant, the three Michelin-starred flagship site in Royal Hospital Road, London, as well as the one-starred Petrus.
The group also counts three restaurants at the Savoy Hotel, which includes the one-starred 1890 by Gordon Ramsay, and two Lucky Cat by Gordon Ramsay restaurants in Mayfair and Manchester.
In July 2024, Morning Wire also reported that Gordon Ramsay had teamed up with Rupert Murdoch’s Fox Corp to invest $100m (£77m) in HexClad, a maker of nonstick cookware.
The deal saw Studio Ramsay take a minority stake in the business. Michelin-starred Ramsay personally acquired a stake in US-based HexClad in 2021.