Ranjit Singh Boparan, the so-called ‘Chicken King’, received a bumper pay day after profit at his private office jumped to almost £125m.
Boparan’s private office includes high street restaurant brands like Carluccio’s and Gourmet Burger Kitchen as well as Bernard Matthews, Banham Poultry and Elkes Biscuits.
Newly-filed accounts with Companies House have revealed that the private office paid out a £12.5m dividend for 2023, after not issuing one in 2022.
The dividend comes as the Chicken King’s private office posted a pre-tax profit of £124.9m for the financial year, up from the £90.2m it achieved in the prior 12 months.
The accounts also show that its turnover rose from £1.59bn to £1.66bn over the same period.
Expansion for Boparan group
The results also come after it was announced that the poultry arm of 2 Sisters Food Group, which is owned by Boparan, was to be sold to his private office for more than €200m (£168m).
The division is currently part of 2 Sisters parent company, Boparan Holdings (BHL).
The arm trades as 2 Sisters Storteboom and employs 2,700 people.
At the time, Boparan said: “This is a significant and transformational deal and unlocks many opportunities for the future, so we are very pleased to announce an agreement has been reached.
“All my companies will benefit as it creates a stronger, more agile group of businesses and provides a platform for an unprecedented level of internal investment.
“As well strengthening BHL, it gives the European poultry business, under the BPO, a dedicated regional focus on its European markets, unlocking undoubted growth opportunities through a focus on quality, animal welfare and sustainability.”
In separately-filed accounts, Gourmet Burger Kitchen reported a turnover of £96.4m for 2023, up from £49.5m.
However, its pre-tax loss widened from £3.2m to £4.7m.
A statement signed off by the Boparan Private Officer board said: “The group maintains a positive future outlook underpinned by growth in the poultry market.
“To keep up with the growth in demand and output required, the group will continue to seek opportunities to improve and develop its existing infrastructure.
“We continue to engage directly with buyers, working on tenders, presenting new products and engaging with customer audits.”