The Jamie Oliver Restaurant Group has revealed it has secured new financing, as it announced sales up 8.7% to £116.1m in 2015.
The restaurant arm of the celebrity chef’s business has secured new financing to January 2020 through a term loan of £17m combined with a revolving credit facility of £15m.
Adjusted EBITDA rose 7.4% year-on-year to £13.2m for the year ending 31 December. However, pre-tax profits fell from £3.8m in 2014 to £2.3m last year, due to fees incurred while the group was considering its options for future financing.
Eight international restaurants and another cruise ship site launched during the year. New international sites include those in Australia, South East Asia, Hong Kong, Brazil, Indonesia, Netherlands, Canada and India taking the number of international restaurants to 22 at the end of the year vs. 45 in the UK (including Barbecoa). Further openings in 2016 include Brazil, India, Hungary, Cyprus and Canada.
The group said significant international expansion of Jamie’s Italian continued at pace, with plans to open further sites in Taiwan, Thailand, South Africa and Portugal.
Paul Hunt, chief executive of Jamie Oliver Group, said: “It’s been a good year for Jamie Oliver group companies, as we continue to focus on delivering Jamie’s philosophy through our core businesses - empowering people across the UK and internationally to make educated choices about food.
“We now have more people visiting Jamie’s restaurants around the world than ever before thanks to our focus on providing great value meals with quality ingredients. Building on that momentum, we have new international openings in the coming months with Jamie’s Italians planned to open for the first time in Portugal, Thailand, South Africa and Taiwan.
“Importantly, we have taken a lead on some of the big social issues that we are really passionate about. By voluntarily introducing a levy on sugary drinks in all of Jamie’s restaurants, we continue to support food education for children across the UK.”