Mowgli Street Food, the restaurant chain led by renowned chef Nisha Katona, has bounced back into profit and generated over 100 new jobs.
The Liverpool-based firm reported a pre-tax profit of £512,178 for the year ending 31 July, 2024, according to recently filed accounts at Companies House, as reported by .
This is a significant turnaround from the previous financial year when Mowgli Street Food recorded a pre-tax loss of £476,456, following a pre-tax profit of £1.9m in the year up to July 2022.
The latest figures also reveal that the company's revenue rose from £30.8m to £40.4m, marking the third consecutive year of sales growth since the peak of the Covid-19 pandemic.
The restaurant chain also increased its workforce from 704 to 833 within the year. In July 2022, Mowgli Street Food had 633 employees, and in July 2021, it had 407.
These results are the second since private equity firm Trispan made a substantial investment in the restaurant chain.
Trispan, which has investments in brands such as Pho and sk:n and operates offices in London and New York, announced the deal in January 2023, providing an exit for Foresight, which initially invested in Mowgli Street Food in 2017 when it only had two sites in Liverpool and one in Manchester.
In March, it was revealed that Mowgli Street Food, along with Pho and Rosa's Thai, would be brought together under a new holding group, Arcturus Group.
Nisha Katona, CEO and founder of Mowgli, commented on the move: "I'm as passionate about Mowgli now as I ever have been, and seeing the business grow from its inception in 2014 to where it is now is testament to the team who have all worked immensely hard.
"This next chapter is incredibly exciting, combining shared knowledge, investment and expertise as part of the Arcturus Group, to really help take Mowgli to the next level."
Katona, who founded the chain in Liverpool in 2014, was later awarded an MBE for her services to the food industry in 2019.
She has also made a name for herself as a renowned food writer and TV chef, making regular appearances on popular shows such as This Morning and MasterChef.
