Carluccio's feels cost pressure

Italian eaterie and retail chain Carluccio’s said yesterday a reduction in consumer spending and an unprecedentel level of cost pressure had caused a small fall in profits over the first half of the year. Profit before tax for the six months to 29 March fell 10.7 per cent to £2.5m, while turnover grew 13.5 per cent to £34.5m. The firm said discussions surrounding the bid approach it received at the beginning of May, thought to be from investment firm Hutton Collins, are still in progress.