Mon 19th Feb 2024 - Salt Bae’s Nusr-Et London sees turnover more than halve to £262,000 a week Salt Bae’s Nusr-Et London sees turnover more than halve to £262,000 a week: Nusr-Et London, the Knightsbridge restaurant from Turkish restaurateur Nusret Gökçe – also known as Salt Bae – has seen its turnover more than halve – to £262,000 a week. Turnover for the year ended 31 December 2022 stood at £13,643,734 with a pre-tax profit of £3,329,381. This compares with turnover of £8,226,410 – £633,000 a week – with a pre-tax profit of £2,308,245 in its first 13 weeks of trading from September 2021. The company had net assets of £6,880,928 at 31 December 2022 (2021: £4,033,747). The business said: “The company started trading in September 2021 and performed higher than the expected results for the last quarter of 2021. The company continued to perform in line with expectations in 2022 and the directors believe the company will be able to continue to trade for the foreseeable future based on the profits generated during the year and management's thorough reviews on the cash flows.” The restaurant has cut its prices in recent years and ditched signature items such as the £1,450 gold-covered steak during the cost-of-living crisis. In its accounts, the company said it had “sought to improve energy efficiency at an operational level” with efforts including “turning off central heating after closing or during peak hours when heating demand is lower” and turning off lights during closing hours. The restaurant opened in London four years after it was first planned. On its launch, dishes included roasted asado short rib, Nusr-Et meat spaghetti and the Nusr-Et special, with Gökçe “personally selecting every cut”. Reports at the time of its launch said that a giant Tomahawk steak would set you back £630, while a golden burger cost £100. Gökçe operates several restaurants in Turkey as well as sites in Dubai, Abu Dhabi, Qatar, Miami and New York. He was dubbed Salt Bae after he sprinkled salt on a steak in a video that has been viewed more than 17 million times on social media. The London restaurant is owned by Turkish company Dogus International, which is one of the largest private-sector conglomerates in Turkey, with a portfolio of 250 companies across seven industries. Nusr-Et London will feature in the next Premium Club Turnover & Profits Blue Book, which has grown to 875 companies and is available exclusively to Premium Club members. Its turnover of £13,643,734 is the 528th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.