31st Jan 2008 07:00
Carluccio's PLC31 January 2008 31 January 2008 Carluccio's PLC AGM Trading Update Carluccio's PLC (the "Company"), the leading UK based group of authentic Italianrestaurants with integrated food shops, announces an update on trading prior toits AGM which will be held later today. The Company is pleased to announce that for the 16 weeks to 13th January 2008turnover growth was 18%. With the benefit of our combined retail and restaurantoffering, Christmas trading was firm despite discernable evidence of consumerpressure. Encouragingly, trading since Christmas has been in line with theBoard's expectations. The Board believes that the Company's all-day trading model with a low averagespend of £12 per head will continue to be of benefit in trading conditions thatare undoubtedly more challenging than a year ago. The Board's view of our marketremains positive with the trend towards eating out well established and forecastto continue growing. The Company's minimum five store opening target for the 2008 financial year ison track with two Carluccio's opened since the year end. These were at Stratfordupon Avon and Spinningfields, Manchester. The Company currently trades from 34locations. The Company's contractors have completed the fit out of its third opening, inHeathrow, Terminal 5. This site is due to open at the end of March 2008. The fitout of the Company's next opening, in the newly refurbished St. PancrasInternational terminal, has commenced with an expected opening date in April2008. The Company has secured its fifth site, in Cambridge, which is expected toopen towards the end of the current financial year. In addition, two sites have already been secured and announced for the 2009financial year: the first in Leicester and the second in Bristol. Good progress is being made in Ireland with the fitting out of the firstCarluccio's to open outside of the UK nearing completion. The Company'sfranchisee is anticipating a Spring 2008 opening. -ENDS- For further information please contact: Carluccio's PLC Hogarth Partnership LimitedSimon Kossoff, Managing Director Andrew JaquesFrank Bandura, Finance Director Fiona Noblet Sarah Richardson Tel : 020 7580 3050 Tel : 020 7357 9477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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