1st Apr 2009 07:00
1 April 2009
Carluccio's PLC
Trading Update
Carluccio's PLC (the "Company"), the leading UK based group of authentic Italian restaurants with integrated food shops, announces an update on current trading ahead of its interim results announcement for the 26 week period ending 29 March 2009.
Trading across the Company's stores has continued to perform in line with the Board's expectations and in the 26 weeks to 29 March 2009, turnover grew by 14% over the same period in the prior year. The Company responded to consumers' search for value by running a series of successful promotions during January and February.
The Company's first store in the Middle East opened in Dubai during March 2009. The Board is encouraged by early customer response. This is the second international store operating under franchise and means that the Company now trades from 42 locations. Three stores have been opened in the UK during the current financial year at Leicester, Bristol and Earlsfield, South West London where trading continues ahead of expectation. The long practiced strategy of a measured expansion programme is unaltered and the Company is on track to meet its minimum five store opening target.
Carluccio's trades all day with a low average spend in the caffe of £12 per head. The Board continues to draw comfort from the inherent strength of this business model as well as the Company's positive cash position as trading conditions continue to be challenging. The Company's positive cash balance is, and is expected to remain a key differentiating factor, and should facilitate a quick response to future expansion opportunities that may arise.
The Company will announce its interim results on 19 May 2009.
-ENDS-
For further information please contact:
|
Carluccio's PLC |
Hogarth Partnership Limited |
Altium Capital Limited |
|
Simon Kossoff, Managing Director |
Fiona Noblet |
Ben Thorne |
|
Frank Bandura, Finance Director |
Anna Keeble |
Sam Fuller |
|
Tel : 020 7580 3050 |
Tel : 020 7357 9477 |
Tel: 020 7484 4037 |
Related Shares:
Carluccios