Percentage of British restaurant businesses turning a profit doubles

Tuesday, July 18, 2023

The percentage of UK restaurants making profits now (based on analysis of Britain's 100 biggest restaurant firms) has doubled in the past year to 78%*, from 35%(2007), says UHY Hacker Young, the national auditing group.

Several dramatic restaurant restructurings since the beginning of the Covid pandemic have made Britain's biggest restaurants profitable again, according to Hacker Young.

In 2022 One out of nine hospitality jobs in the UK was unfilled, and as a result, hospitality undertakings have had to pay employees an additional 9% to recruit staff last year.

The number of shops in the British hospitality industry touched a five-year high of 186 last week after business valuations dropped dramatically during the pandemic.