Jamie Oliver sees profits go off the boil as company losses £13million

A combination of book sales, TV shows and licensing deals saw turnover at the celebrity chef’s company, Jamie Oliver Holdings, rocket by 21 per cent to £39.7 million.

This result in pre-tax profits of £7.1 million however a number of debts in his other associated companies saw overall profits plummet.

When accountants included costs, expenses and exceptional items for the year saw the company ended up losing lose £12,818,072.

Records show the chef, who has be campaigning for a sugar tax, received a £10 million property as part of a dividend from Jamie Oliver Holdings..

The 40-year-old star, who is now worth around £250 million, also showed his generous side by donating £311,266 to charity.

A troubled few years in two of the celebrity chef’s high-profile ventures were responsible for his Holdings company reporting a large overall loss.

Oliver also owns JME Group Limited, which was responsible for his food range but the company has failed to take off. JME owes Jamie Oliver Holdings more than £15 million.

The Oliver-owned company, Recipease Limited, which is responsible for his cooking schools, has also had its problems with a number of schools were closed and it owes Jamie Oliver Holdings £7,172,980.

Jamie Oliver Holdings included £16,557,890 of these bad debts as “exceptional items” in the 2014 accounts, which were published this week.

This resulted in the company going from post-tax profits of £5,299,331 to overall losses of £12,818,072.

The strategic report published in the accounts said the group will now focus on its core media and licensing activities.

While Jamie Oliver Holdings had a tough year, Jamie’s Italian Limited, of which Oliver owns a 50 per cent share, had a more successful 12 months.

Turnover at the restaurant company, which has 38 venues in the UK, soared by seven per cent to £109 million with Oliver’s dividend at £2.6 million