Jamie Oliver and his wife, Jools, have paid themselves £2.5 million in dividends for the second consecutive year, even as pre-tax profits at their core business fell by more than 30%.
Accounts for Jamie Oliver Holdings (JOH) show pre-tax profits dropped from £3.4 million to £2.4 million in 2024, despite a 6% rise in sales to £28.6 million. The results reflect a mixed year for the celebrity chef’s media and restaurant group, which saw strong growth in hospitality offset by lower income from media and brand deals.
JOH encompasses Oliver’s television and publishing ventures, endorsements, cookery school, and restaurant operations, as well as licensing and franchise income from international Jamie’s Italian and Jamie’s Deli outlets. The company also manages his long-running partnership with Tesco, which ended last year, and royalties from branded products.
Restaurant income rebounded sharply, rising to £3.6 million from just £336,000 the year before, following the launch of Oliver’s first directly operated restaurant since the collapse of his UK Jamie’s Italian chain in 2019. Franchise income from overseas restaurants also increased modestly to £3.8 million. However, royalties, endorsements and TV production revenues fell 10% to £19.8 million, reflecting the end of major deals in 2023.
The group, which achieved B Corp certification in 2019, was led by chief executive Kevin Styles until December 2024. No successor has been appointed, and the business is now overseen by its operating board.
A spokesperson said the group plans to open 12 new restaurants internationally this year, including its first sites in Oman and Greece. It has also tripled the capacity of its cookery school through a new partnership with John Lewis, opening its first in-store site on Oxford Street earlier this year.
Sales at the cookery school remained stable at around £1 million before the expansion. Oliver’s Ministry of Food foundation, meanwhile, continues to teach cookery skills in more than 1,150 UK secondary schools.
The company said trading had improved in the second half of the year despite “challenging” conditions for hospitality. The family’s dividend reflects their broader portfolio of licensing and intellectual property ventures, for which separate financial details are not disclosed.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.
