Clapham House Group posts mixed bag of financial results

17th December 2009, 7:54am

Clapham House Group, owner and operator of Gourmet Burger Kitchen and The Real Greek has today announced its interim results for the six months ended 27 September 2009 showing mixed performances.

Revenue has increased by 13% to £22.5 million but pre-tax profits fell slightly from £1.5 million to £1.3 million.

The statement said the restaurant group would now be focusing its efforts on Gourmet Burger Kitchen and The Real Greek, after Tootsies fell into administration in October 2009.

It added that net debt had fallen by almost £1 million after selling off the Tootsies sites.

David Page, executive chairman, said: "Despite the difficult economic environment in the UK, we are pleased to have reported growth in sales and maintained profitability in our GBK and TRG businesses. We are now focused on two robust, growing and cash generative restaurant businesses that are set to benefit as the UK economic environment improves."

Clapham House Group said several marketing partnerships with leading newspapers, charities and national retailers had been productive. It said the approach was designed to offer value-for-money without the negative impact '2for1' vouchers have on margins.

The group said its two new Gourmet Burger Kitchens at Bluewater and Clink Street, London SE1 have traded well since opening but there will be no further new UK restaurants in this financial year.

Related Articles:

• 12 Oct 2009 - Tootsies Restaurants placed into administration while Giraffe capitalise on sites
• 07 Jul 2009 - Clapham House Group continues to perform well
• 01 Apr 2009 - Gourmet Burger Kitchen looks to expand
• 27 Mar 2009 - Restaurant executives gear up for industry summit
• 18 Feb 2009 - Clapham House joins carbon management scheme
• 10 Dec 2008 - Clapham House posts tasty profits

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