London nightclub operator reports drop in turnover and profit: The operator behind London nightclubs G-A-Y and Heaven has reported a drop in turnover and profit in the year to 30 April 2024. JJ is G-A-Y reported turnover of £9,692,493 (2023: £10,987,727) with a profit before tax of £300,045 (2023: £698,986). The company also reported a £403,995 premium on surrender of lease (2023: nil). Director Jeremy Joseph said: “The group experienced difficult trading conditions due to the high inflationary environment and the cost-of-living crisis which has had an impact on consumer demand and the profitability of the business. During the year, the venue G-A-Y Late was closed. The current economic environment in the UK has seen significant inflation in utility costs, increases in rent and staff salaries. More recently the national minimum living wage has been increased. I continue to monitor the situation carefully and manage such cost increases where possible.” Dividends of £584,600 were paid (2023: £552,812). 

 

Samyukta Nair’s high-end Mayfair Indian restaurant increases its turnover and profit: Restaurateur Samyukta Nair’s high-end Mayfair Indian restaurant, Jamavar, increased its turnover and profit in the year to 30 April 2024. The company’s turnover was up from £5,393,703 in 2023 to £5,501603 while its pre-tax profit rose from £707,641 to £852,084. Its Ebitda was also up from £278,728 in 2023 to £398,928. Director Kiran Bhowjani said: “Revenue has increased mainly due to Jamavar continuing to build on its excellent reputation as a quality restaurant, offering some of the best Indian cuisine in London. Management have been proactive in ensuring that costs are effectively managed and this is shown by the increase of approximately £144,000 in profit before tax. At the year-end date, there is a net liability position of £1.1m (2023: £2.0m). This is mainly due to a loan due to the parent company which the parent company has confirmed will not be requested for repayment within the 12 months following the date these financial statements are signed. As the company continues to generate profits in future years, the net liability position is expected to reduce further. The Company expects another strong year, with further growth in turnover as the restaurant's reputation continues to grow.” No dividends were paid (2023: nil). Jamavar first launched in Indian in 2001 and has a presence across five Indian cities. Its Michelin-starred London outpost opened in 2016, and a further overseas site opened in Qatar in 2021. The London site is operated by Nair’s LSL Capital hospitality group, which is also behind Bombay Bustle, MiMi Mei Fair, Socca, Koyn and Nipotina.

 

Jodie Kidd – ‘when someone comes in and they’re spending upwards of £5 on a pint, they need to have a blinking good one’: Jodie Kidd has said that when someone comes into her pub spending upwards of £5 on a pint, “they need to have a blinking good one”. The former model and socialite took over the Half Moon in Kirdford, West Sussex, eight years ago, rescuing the pub from being turned into houses. Speaking to The Telegraph following the launch of her new pub-based podcast, Kidd said: “When someone comes in and they’re spending upwards of £5 on a pint, they need to have a blinking good one. We have really invested in technology to make sure every pint we pour is perfect, and we do really see our customers appreciate that. Whatever you’re serving, it’s got to be perfect, because we totally realise that going out and spending money is tough. What’s happening with the cost of living is not easy for anyone, but people need to be able to go out and spoil themselves as well. If people have worked hard, they need to have the places to go where they can have a nice meal and a nice pint and we need to make sure that when they do, we are able to offer them the very best quality.” Of the challenges she faces as a pub owner, Kidd said: “The beer tax is one of the highest in Europe. Sainsbury’s can offset the price of beer to tomatoes or whatever they’re going to do – we don’t have that option. That puts pressure on the whole industry. We are constantly having to battle with business rates, alcohol duty and attracting customers, and the government can’t even be bothered to have a hospitality minister to represent a sector which contributes billions to the economy? I don’t understand it. It’s hard graft – it’s long days on your feet, and you might be tired, you might have blisters, but you always have to go to work with a big smile on your face. You still have to take time to talk to people and make people feel important. You just have to make it seamless. When people come in, they need to be noticed, taken to a table, have their order taken in good time, glasses cleared and refilled when they need them to be. Some pubs say they can’t afford enough staff to do that – I would say you can’t afford to leave people waiting.”