Restaurant chain Giraffe reveals expansion plans

1st July 2010, 8:41am

Restaurant chain Giraffe has experienced an increase in turnover, from £24m to £29m, in the 12 months to March 2010 and has revealed big expansion plans for 2010 onwards.

The group has announced the acquisition of seven Tootsies sites into the Giraffe brand, will be opening a new venture in Victoria and has launched the new Guerilla Burgers brand in James Street, London.

Chairman Luke Johnson commented on the findings: "This is a very strong performance from the Giraffe management team, who executed the Tootsies acquisition efficiently despite its complexities, and without loss of focus on the core Giraffe restaurants.  The Bank facilities at our disposal will enable us to move quickly should any further similar opportunities come to the market in the next year. 

Managing director Russel Joffe added: "These results show a resilient performance for the year to March 2010, in a challenging casual dining market.  I am pleased to report a strong performance in the core estate.

"As a result of the change of brand, tweaks to the restaurant layout, re-training of personnel to introduce our trademark friendly service, we have seen material sales increases in virtually all converted sites."

Chief financial officer Paul Viner, revealed further plans for the group this year: "This year will see the group's first opening in Scotland with the launch of our Aberdeen site in September. At 37 restaurants, the group is becoming a national business. 

"Giraffe is cash generative, net debt is modest, and with a highly experienced management team, we will continue to grow in an ambitious but carefully managed way to our target of 50 branches."

Related Articles:

• 30 Aug 2011 - Giraffe restaurants partner with Livebookings
• 19 Nov 2010 - The Giraffe restaurant group welcomes new group operations manager
• 03 Nov 2010 - The Giraffe restaurant group continues to expand
• 20 Oct 2010 - NEW RECRUITMENT MANAGER AT GIRAFFE
• 16 Sep 2010 - Giraffe launches first restaurant in Scotland
• 02 Sep 2010 - Bright Futures Group acquire Yes Dining Limited
• 23 Jun 2010 - Dressing gown Monday launches at Giraffe restaurants
• 15 Jun 2009 - New opening for Giraffe
• 18 Jun 2007 - Fat Giraffe and Black Cat link!

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