Carluccio's profits soar by 14%

10th December 2008, 12:26pm

Italian food and café chain Carluccio's has reported a 14% hike in full-year profits and believes it is in a strong position to continue its programme of 'measured international expansion' next year, despite the current economic crisis.

Carluccio's, which has 41 outlets in the UK and Ireland, posted profits before tax of £5.6 million for the 53 weeks to September, compared with £4.9 million in 2007. It said current trading was "satisfactory, achieved without significant discounting" and in line with expectations.

Managing director Simon Kossoff said he was "pretty cautious about 2009" but added that Carluccio's stores were different from other types of restaurants and allowed the business to stay open for longer periods than competitors.

Stephen Gee, executive chairman, said: "I am delighted to report our seventh year of uninterrupted double digit growth in revenue and profit before tax.  Six new Carluccio's were opened during the financial year, including our first franchise store in Dublin, Ireland.  Since the year end a further three have opened taking the total number of Carluccio's stores to 41. Our business continues to be highly cash generative, the benefit being that we can finance our opening programme out of internally generated cash flow whilst remaining debt free.

"Many years of successful profit growth and cash generation have only been achieved due to the dedication and commitment of our staff at all levels of the organisation.  This has been recognised by our peers in giving us more than 20 awards both for our restaurants and our shops.  Most recently at the London Restaurant Awards we were voted "Best Chain Restaurant" and Good Housekeeping accorded us the accolade of "Best Gourmet Food Retailer."

Carluccio's outlets can be found in areas such as Earlsfield, South West London, Heathrow Terminal Five, St Pancras International station, as well as the two newest stores in Leicester and Bristol. The group also has a franchise for a further six countries in the Middle East. 

Related Articles:

• 01 Apr 2010 - Trading across Carluccio's stores is ahead of expectations
• 16 Mar 2010 - Carluccio's switches off for Earth Hour
• 05 Feb 2010 - Restaurant chain Carluccio's is on target to open five more stores this year
• 14 May 2009 - Behind the scenes at Carluccio's

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