JKS Restaurants turnover doubles in FY22
The company, part of the group headed by Yum Midco Limited, also reported that EBITDA reached £5.5m from £1m recorded in 2021
The operator of Gymkhana, Hoppers, Sabor and Kitchen Table, JKS Restaurants, has revealed that turnover has almost doubled to £50m during FY22 ended 1 January 2023.
The company, which is part of the group headed by Yum Midco Limited, also reported that for the period EBITDA reached £5.5m from £1m recorded in 2021.
However, this has led to a loss of £4.4m, as the restaurant operator continues to face cost pressures in the supply chain and wage inflation, as well as the potential for rent increases.
During FY22, JKS Restaurants also opened Speedboat Bar in partnership with Luke Farrell and a second Berenjak site.
According to the group, it is continually looking for ways to improve efficiency across its restaurants as it aims to create a “multi-branded, market-leading” restaurant group across cuisines and categories that enables young and ambitious chefs to showcase their talent.
With regard to the current trading climate, the company has a plan in place to navigate through the global recession, staffing shortages, and inflationary pressures, including the global energy crisis.
JKS Restaurants has negotiated gas contracts up until 2025, which limit it from exposure to rising gas prices.