Maxwell’s restaurant Group has reported turnover and profits up in its most recent year with turnover rising to£26,841,2337 in the year to 29 October 2012 up from £24,285,946 the year before. Pre-tax profit then rose to £2,335,626 from £2,052,753 the year before.
The company, which announced this week it is to rename its flagship Novajo Joe as Joe’s Southern Kitchen & Bar when it reopens next month, said: “2012 was another successful year for the company. Beauquest was acquired in March 2012 and has been successfully incorporated into the group, contributing both sales and profits. The London Olympics were not as successful as many had predicted and the general economic position remained difficult, but through careful management another profitable result was returned.”
Maxwell’s was formed in the early 1970s, when “it was nigh impossible to find a decent burger or grill in London”. Stein opened Maxwell’s Hampstead before expanding into Covent Garden in the 1980s.