Gordon Ramsay's TV company rakes in £60m as chef's empire continues to soar

Gordon Ramsay's production company, Humble Pie Productions, trading as Studio Ramsay, has reported a significant increase in turnover and continued profit growth in its latest financial year.

The company posted a turnover of £60.6m for the 12 months to 30 June, 2024, alongside a pre-tax profit of £7.1m, as reported by City AM.

This is a notable increase from the £43.1m turnover and £5.6m pre-tax profit achieved in the 18 months leading up to June 2023.

The recent results, filed with Companies House, follow a reported turnover of £7m and pre-tax profit of £226,459 for the calendar year of 2021. Following a joint venture signed with Fox in September 2021, the company has been commissioned to produce shows such as Trailblazers for the BBC, Gordon's Food Stars of Fox and Next Level Chef for both ITV and Fox.

Studio Ramsay stated that these commissions have "significantly contributed to the significant increase in the turnover during the period". The London and Glasgow-based company also noted 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."

Furthermore, it highlighted that "the high margin achieved from the distribution and participation revenue streams have little or no costs of sale". Other productions by the company include Gordon Ramsay's Future Food Stars, Gino's Italian Family Adventure, and The F Word.

In May 2024, City AM reported Gordon Ramsay’s restaurant turnover for the year leading up to August 27, 2023, was £95.6m, a significant increase from the previous year's £78.9m.

However, pre-tax losses also increased from £1m to £3.4m during the same period.

The group has stakes in 56 restaurants, including 34 in the UK and 22 licensed locations across Europe, the Middle East, and Asia. These include Gordon Ramsay's flagship restaurant, the three Michelin-starred site on Royal Hospital Road, London, and the one-starred Petrus.

The group also operates 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, City AM also reported that Gordon Ramsay had partnered with Rupert Murdoch's Fox Corp to invest $100m (£77m) in HexClad, a manufacturer of nonstick cookware. This deal resulted in Studio Ramsay acquiring a minority stake in the business.