The parent company of Heston Blumenthal’s Fat Duck restaurant in Bray has reported a pre-tax loss of £1.4m due to “severe financial headwinds”.
In documents filed with Companies House for the year ending 28 May 2023, SL6 Ltd, behind the three-Michelin-starred Fat Duck and the Michelin-starred Hinds Head pub in Bray, reported a slight drop in turnover from £11.5m in 2022. to £9.5m in 2023.
SL6 Ltd made a pre-tax loss for two consecutive years, with £1 million between 1 June 2020 and 30 May 2021 and £500,000 the previous year. However, the company turned around its financial performance in 2022, reporting a pre-tax profit of £2.4m.
The group revealed that it was significantly affected by supply chain inflation, recruitment difficulties and reduced consumer spending due to the cost of living crisis.
During this period, SL6 Ltd stated that it absorbed most of the inflationary pressures and did not pass them on to customers in order to maintain profitability.
Staffing costs increased from £2.9m in 2022 to £3.4m, corresponding to an increase in the average total monthly headcount from 104 to 118 over the period.
SL6 Ltd director Ronald Lowenthal, who has been with the group since 2007, expressed confidence that the company is well placed to strengthen its presence as it navigates through “legacy headwinds” and a “very challenging economic and trading environment”. .