Group linked to Scottish Labour leader Anas Sarwar returns to profit
A company linked to Scottish Labour leader Anas Sarwar has returned to the black, according to its most recently revealed set of accounts.
Glasgow-based Hero Brands, whose portfolio includes German Doner Kebab, Island Poké and Choppaluna, has reported a £3.8m pre-tax profit for 2023.
The new figure has been revealed in a statement while its full year accounts are over due to be filed with Companies House.
Hero Brands said it had returned to making a pre-tax profit after the company received dividends of £6m from its subsidiaries.
The profit comes after the business fell to a pre-tax loss of almost £1.6m in 2022.
In the statement, Hero Brands did not reveal how much revenue it generated in 2023. In 2022, the figure stood at £37.8m.
However, the group did reveal that it expected to achieve an EBITDA [earnings before interest, taxes, depreciation and amortisation] of £2.5m for 2024.
Hero Brands added that German Doner Kebab delivered £163.7m in what it described as “system-wide sales” in 2023.
The group is run by chairman Athif Sarwar, the brother of Scottish Labour leader Anas Sarwar.
Athif Sarwar said: “Our goal has always been to positively influence culture and we continue to develop category defining brands that connect and respond to the modern consumer.”
Hero Brands currently has 70 restaurants in London across its various brands and more than 200 restaurants worldwide.
German Doner Kebab opened 19 new restaurants globally during 2023 and a further 16 in 2024.
Hero Brands added that it has a “more aggressive development pipeline secured” for 2025.
Athif Sarwar added: “We are entering an exciting period of growth for Hero Brands as we create category defining brands that respond to the modern consumer.
“Our talent platform is also giving our collaborators across music, fashion and culture the opportunity to develop authentic brand partnerships, as well as the ability to licence their own ideas and create high-value sustainable brands.”
As well as Hero Brands, the Sarwar family also own United Wholesale Scotland.