Soho House recorded a significant rise in profits, reporting an operating profit of nearly $60 million in the last quarter, a 71% increase from the previous quarter. This achievement marks the first instance of consecutive quarterly profits in its 30-year history. Revenue also increased by 9% to $330 million, driven by growing membership, which exceeded 270,000. Amidst this success, billionaire Ron Burkle aims to take the business private, believing it has been undervalued, as the company explores the proposal to potentially exit the stock market.
Soho House has reported an operating profit of just under $60 million in the three months to July, marking its first time achieving consecutive quarterly profits in 30 years.
The company has formed a special committee to assess a bid from billionaire chairman Ron Burkle to take Soho House private, amid claims the market has undervalued the business.
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