Burger & Lobster issues financial update and announces new CEO

Despite a challenging backdrop in terms of supply chain costs and increased labour expenses, Burger & Lobster increased its operating profit to £2m in 2024, up from £1.8m in 2023. 

The brand has also announced that its founder, Misha Zelman, is to step down as CEO and move into the role of non-executive director on the board. Subsequently, Dino Sura, currently MD of the brand's UK and US sites, will take over as global CEO.

The 11-strong restaurant group has released its financial results for the financial year ending 29 December 2024. The business performed well overall, with sales from UK restaurants amounting to £32.3m, resulting in an EBITDA of 10%. 

The group, which also owns and operates a branch in New York, opened two new sites in 2025 (Brighton and Kensington) and continues to seek expansion opportunities in the UK and abroad. 

Operational update

Burger & Lobster has several franchise partnerships across the Middle East and Asia, which last year contributed to an EBITDA of £4.1m, a 14% increase on 2023. This further enhanced the brand's net assets, which sit at £19m, with a cash balance of £12.1m. 

The business also achieved some of the best customer satisfaction scores on key review platforms, averaging 4.76 out of 5 in 2024. Improvements have already been seen this year to date, driven by investment in staff training and retention figures growing from 2.7 years in 2023 to three years in 2024, up 14%. 

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