Jamie Oliver gets £6.8 million payout as his companies return to growth

Jamie Oliver and his family bagged a £6.8 million payout as profit rebounded at the celebrity chef’s companies in 2022.

Profits grew to £7.7 million, as a post-pandemic rebound helped revenue from franchised restaurants abroad more than double to £3.7 million. As of the end of last year, there were 70 Jamie Oliver restaurants outside of the UK.

Oliver’s media empire continued to grow as well, with television programming revenue more than doubling to £2.9 million.

That allowed Jamie Oliver Holdings to pay out a £5 million dividend, more than triple 2021’s payout. Jamie Oliver Licensing paid a further £1.5 million, though this was down from 2021.

It represents a major turnaround after the Jamie’s Italian chain collapsed in 2018 with debts of £83 million, before the restaurant sector was devastated by the pandemic.

CEO Kevin Styles, appointed last year to transform the businesses, said: “The Jamie Oliver brand continues to resonate with audiences around the world.

“The results for 2022 show we have the foundations in place from which to continue to evolve our business, putting our customers first, serving their mealtime needs across a range of relevant media & product solutions as well as restaurant & cooking experiences.

“Our goal is to maximise our brand’s commercial and social impact. With a more connected and detail-oriented approach, we plan to enter new markets and activate and scale global propositions and partnerships with local insight.”

Oliver is returning to the UK dining scene with a new restaurant in Covent Garden, set to open in November. Last week, he revealed  the restaurant will be called Jamie Oliver Catherine Street.