Fine dining is alive and well and living in London, putting the lie to reports that upmarket burger, chicken and rib outlets are hastening its demise.
Des Gunewardena, chairman and chief executive of D&D London, which owns Le Pont de la Tour, Quaglino’s, Skylon, Kensington Place and others, has revealed that the group’ss restaurants’ takings have passed the £100 million mark for the first time.
According to a report in the London Evening Standard Gunewardena said: “It’s not just the new places that are doing well, but it’s also the established places that have been open 20 years. We are seeing growth across the board.”
He added that restaurants were packed and diners were spending more than ever.
D&D London, according to the paper, saw turnover increase 13 per cent from £93.1m to £104.9m in the financial year to March while profits rose 50 per cent, from £5.5 million to £8.2 million.
According to the group, spend per customer was about £65, including VAT and service, and the group during that period served 200,000 oysters, 800,000 cups of coffee and 400,000 glasses of champagne and sparkling wine.
This success has led to a £5 million investment in the German Gymnasium in King’s Cross, which opens in November bringing its total of restaurants in London to 28.
Gunewardena told The Standard there could be possible stock market flotation “within weeks”.
- D&D’s figures confirm a formal dining trend: Gordon Ramsay has 14 restaurants in London including Savoy Grill, Pétrus and Maze, and saw its turnover rise 12 per cent to £46.8 million while Caprice Holdings —The Ivy, 34 and Scott’s — reported turnover up 2.9 per cent at £47.8 million in 2014.