London-based restaurant chain Dishoom has achieved a significant financial milestone, surpassing £100 million in sales during its latest financial year.
The company reported a turnover of £116.8 million for 2023, according to recently filed accounts with Companies House. This marked a strong increase from the previous year’s turnover of £94.9 million, as reported by City AM.
Impressive Growth in Jobs and Profit
In addition to its financial success, Dishoom created almost 300 new jobs over the 12 months, increasing its workforce from 1,572 to 1,857 employees.
This surge in turnover also fueled a substantial rise in the company’s pre-tax profit, which jumped from £4.7 million to £7.4 million.
These results represent Dishoom’s first full financial year free from the impacts of the Covid-19 pandemic.
For comparison, in 2019, the company reported a turnover of £52.9 million and a pre-tax profit of £4.7 million.
However, the pandemic had a significant impact on Dishoom’s operations, with turnover dropping to £29.1 million and resulting in a pre-tax loss of £3.7 million during the peak of the crisis.
A Year of Resilience and Recovery
Since the pandemic, both the turnover and pre-tax profit of Dishoom have steadily increased, reflecting a period of resilience and recovery for the company.
In a statement approved by the board, the company emphasized its ongoing commitment to enhancing the quality of its customer experience and the development and retention of its team, which has been instrumental in achieving this financial success.
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Significant Dividend Payout and Expansion
In a show of confidence in its financial health, Dishoom declared a dividend of £9.8 million for the year, a notable increase from the £3.7 million paid out in the previous 12 months.
The restaurant chain was established in 2010 by Shamil and Kavi Thakrar, alongside Amar and Adarsh Radia, who exited the business in 2017.
Starting with its first restaurant in Covent Garden, Dishoom has since expanded to six other locations in London, as well as restaurants in Edinburgh, Birmingham, and Manchester.
Dishoom Outperforms Its Smaller Rival, Mowgli Street Food
This news comes in contrast to its smaller competitor, Mowgli Street Food, which, despite achieving record sales, reported a loss during its most recent financial year.
Mowgli Street Food, led by celebrity chef Nisha Katona, reported a turnover of £30.8 million for the year ending July 31, 2023, up from £26.8 million in the previous year.
However, the Liverpool-based company recorded an operating loss of £86,026, compared to a profit of £2 million in the prior year.
A Bright Future Ahead for Dishoom
Dishoom’s impressive growth trajectory and financial success highlight the brand’s strong position in the market.
With a focus on quality customer experiences and a commitment to its team, Dishoom is well-positioned to continue its success and further establish itself as a leading player in the UK restaurant industry.
