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Jamie Oliver and his spouse, Jools, have awarded themselves £2.5 million in dividends for the second successive year, even as pre-tax earnings at their primary enterprise declined by over 30%.
Financial statements for Jamie Oliver Holdings (JOH) indicate that pre-tax earnings fell from £3.4 million to £2.4 million in 2024, despite a 6% increase in revenues to £28.6 million. The outcomes illustrate a varied year for the celebrity chef’s media and dining group, which experienced significant growth in hospitality counterbalanced by reduced revenue from media and brand partnerships.
JOH includes Oliver’s television and publishing activities, endorsements, culinary school, and restaurant businesses, in addition to licensing and franchise revenue from global Jamie’s Italian and Jamie’s Deli locations. The firm also manages his long-standing collaboration with Tesco, which came to an end last year, and royalties from branded merchandise.
Income from restaurants surged notably, elevating to £3.6 million from merely £336,000 the previous year, following the debut of Oliver’s first directly managed restaurant since the failure of his UK Jamie’s Italian chain in 2019. Franchise revenue from international establishments also saw a slight rise to £3.8 million. Nevertheless, royalties, endorsements, and television production income decreased by 10% to £19.8 million, reflecting the conclusion of significant contracts in 2023.
The group, which obtained B Corp certification in 2019, was guided by chief executive Kevin Styles until December 2024. A successor has yet to be named, and the operation is currently managed by its executive board.
A representative stated the group intends to launch 12 new restaurants internationally this year, including its inaugural sites in Oman and Greece. They have also tripled the capacity of their culinary school through a new alliance with John Lewis, inaugurating its first in-store location on Oxford Street earlier this year.
Revenues at the culinary school remained steady at approximately £1 million prior to the expansion. Meanwhile, Oliver’s Ministry of Food foundation continues to impart culinary skills in more than 1,150 secondary schools across the UK.
The company reported a positive shift in trading during the latter half of the year despite “difficult” circumstances for hospitality. The family’s dividend reflects their extensive portfolio of licensing and intellectual property undertakings, for which specific financial details are not publicly available.
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