The restaurant company behind the Wolseley in the West End of London is set to push on with its expansion after reporting record results.
The Wolseley Hospitality Group is preparing to launch a City branch of its eponymous Piccadilly venue.
Chief executive Baton Berisha said it was “well positioned to grow the business both in the UK and overseas”.
Minor International, the Thai hotel group that owns the chain, has raised the prospect of opening Wolseleys in Hong Kong, Shanghai and Singapore. It is also planning smaller-format Café Wolseley outlets in London, Birmingham, Manchester and Oxford, as well as in China and the Middle East, with a hotel under consideration.
In the year to the end of December, Wolseley Hospitality, formerly known as Corbin & King, reported a 60.7% rise in turnover to £53.7m as underlying earnings in 2022 increased from £2.3m to £5.7m.
But it is not all rosy. The legacy of Covid costs meant that post-tax the group swung from a £1.2m profit to a £4.3m loss, while its ninth restaurant, the Café Wolseley at Bicester Village in Oxfordshire, was taken back by the landlord in August.
