JKS Restaurants sees FY turnover hit £73m
When including management fees and operating lease costs, JKS’ adjusted EBITDA amounted to a profit of £8.6m
The operator of multiple F&B concepts across the UK and Middle East, JKS Restaurants, has reported a turnover of £73m for the 65-week period ended 31 March 2024.
The business, which is best known for Gymkhana, has also seen its losses before tax widen to £5.5m during the period from £925,790 in 2023. This is despite having almost doubled its sales to £50m.
Meanwhile, the group’s adjusted EBITDA – excluding management fees – amounted to a loss of £6.9m, up from a previous loss of £1.3m in 2023.
When including management fees and operating lease costs, JKS’ adjusted EBITDA amounted to a profit of £8.6m.
Post year-end, in April 2024, Gymkhana Fine Foods – the group’s retail business – also raised $3m (£2.4m) in seed funding led by venture capital firm CAVU Consumer Partners.
In summer 2024, the group expanded its portfolio by introducing a new 140-cover Punjabi restaurant, Ambassador’s Clubhouse, in August in Mayfair. In July, the group opened its third pub, The Hound, in Chiswick.