Street Food Business, Mowgli, Regains Profitability and Generates Over 100 New Employment Opportunities
Mowgli Street Food Bounces Back:
Following a turbulent period, celebrity chef Nisha Katona's Mowgli Street Food restaurant chain is back in the black and creating over a hundred jobs! The Liverpool-based business proudly reports a pre-tax profit of £512,178 for the fiscal year ending July 2024, as per financial documents filed with Companies House.
A remarkable turnaround, the profit was achieved after Mowgli Street Food posted a pre-tax loss of £476,456 the previous financial year. In the fiscal year ending July 2022, the company had raked in a pre-tax profit of a whopping £1.9m.
The recently disclosed figures also reveal a 33% increase in revenue, with sales rising from £30.8m to £40.4m. This marks the third consecutive year of growth for the restaurant chain since the peak of the Covid-19 pandemic.
But the outstanding success story doesn't end there. Mowgli Street Food has also bolstered its workforce, increasing headcount from 704 to 833 employees. The company's staff numbers stood at 633 in July 2022 and 407 in July 2021.
Arcturus Group Connection
These impressive numbers come after private equity firm Trispan made a substantial investment in Mowgli Street Food. The investment, revealed in January 2023, provided an exit for Foresight, who had initially invested in the restaurant chain in 2017. Back then, the chain operated just two sites in Liverpool and one in Manchester.
In March, it was announced that Mowgli Street Food, Pho, and Rosa's Thai would join forces under the new holding group, Arcturus Group. The strategic move is expected to strengthen and propel the growth of these brands within the UK and potentially beyond.
Speaking on the collaboration, Nisha Katona, CEO and founder of Mowgli, shared her enthusiasm, "I'm as fired up about Mowgli now as I ever have been. Seeing the business grow from its inception in 2014 to where it is now is a testament to the incredible team who have worked tirelessly. This next chapter, as part of the Arcturus Group, is going to be incredibly exciting!"
Since establishing Mowgli Street Food in Liverpool in 2014, Katona has amassed a reputation as a renowned food writer and TV chef, making regular appearances on popular shows like This Morning and MasterChef. She was also honored with an MBE for her contributions to the food industry in 2019.
- Nisha Katona's Mowgli Street Food, despite a turbulent past, regularly reports a positive standing in the finance industry, such as the pre-tax profit of £512,178 for the fiscal year ending July 2024.
- In the business world, Mowgli Street Food has managed to create over a hundred jobs, highlighting the company's impact on the employment sector.
- The remarkable growth and success of Mowgli Street Food might be attributed to strategic investments, like the one made by private equity firm Trispan in January 2023.
- Looking forward, Mowgli Street Food is expected to further expand its reach within the UK and potentially beyond, as part of the Arcturus Group, following its collaboration with Pho and Rosa's Thai in March 2023.
