VAT cut helped Waterside Inn hit record pre-tax profit

Strong demand and reduced VAT helped the Waterside Inn generate a record pre-tax profit of £1.6m last year.

The three-Michelin-starred restaurant in Bray, Berkshire, was also helped by a business interruption insurance payment, revaluation of investment properties and wine auction sales, according to documents filed with Companies House, which reported turnover of £6.1m.

The documents also revealed plans to develop a property adjacent to the restaurant into offices, a culinary school, a video studio and a museum-library dedicated to the late Michel Roux, who founded the restaurant in 1972.

“The group overall has maintained good levels of business in 2022 and continues to operate profitably but there are undoubtedly a number of concerns for the future,” the group said, namely staff shortages, rising costs and economic uncertainty.

“There are uncertain times ahead but the Roux brand and reputation, our experienced management and the strong group balance sheet should significantly reduce our risks moving forward.”

Roux Waterside Inn also acquired the nearby Roux at Skindles brasserie and cocktail bar from the Michel Roux estate at the end of last year “to secure [its] future” following his death in 2020, although no operational activities for 2021 from the venue were consolidated into the group's figures.