Carluccio’s dines out as new openings lift profits
ITALIAN restaurant and retail group, Carluccio’s, yesterday said it expected to deliver full-year underlying pre-tax profits slightly ahead of its expectations as it experienced good trading in the period.
For the 52 weeks ended 27 September, the company – headed by chief executive Simon Kossoff – said its revenue grew eight per cent.
Carluccio’s, which opened six new restaurants in the period, with the majority of openings outside of London, said it was positive about the long-term prospects for the business.
However, the company said pressure on consumer spending would continue for some time with trading conditions for the sector remaining difficult.
The company said its annual impairment review was likely to result in a non-cash provision against the carrying value of two stores, but it would not alter its cash position or cash-generating ability.