Trading Update
28 Juli 2010 - 8:00AM
UK Regulatory
TIDMIRC
RNS Number : 0292Q
Individual Restaurant Company PLC
28 July 2010
Individual Restaurant Company plc
Trading Update
Individual Restaurant Company plc ("the Group"), the leading restaurant operator
with 33 premium casual dining restaurants trading under either the Piccolino
brand (22) or the Bar & Grill brand (11), announces an update on current trading
ahead of its interim results for the 26 week period to 4 July 2010.
As indicated previously, the impact of the extreme weather conditions in the
first two weeks of this year and the Football World Cup at the end of the
period, have had an adverse effect on trading in the first half. Whilst the
Group's earnings remain heavily weighted towards the second half, it is
anticipated that the combination of these exceptional factors will negatively
impact the Group's performance for the current year by approximately GBP0.6m, in
total, at the profit before tax level.
However, as set out in our AGM statement in May, like for like sales for the
first three weeks of May were ahead of last year and this pattern was
experienced across the Group, not just in the South East where our restaurants
have been broadly in growth since the beginning of the year. Since England's
participation in the World Cup ended, the pattern of like for like sales has
resumed.
The Board is encouraged that excluding the exceptional events experienced in the
first half trading was in line with the Board's expectations and like for like
sales are now in growth. The Directors remain confident that the Group remains
well placed to take advantage of the opportunities which should arise if the
current underlying trading trends are sustained.
The Group's interim results will be announced on 13 September 2010.
28 July 2010
Enquiries:
+--------------------------------+----------------------------+
| Individual Restaurant Company | Tel: 0161 839 5511 |
| Plc | |
+--------------------------------+----------------------------+
| Steven Walker, Chief Executive | |
+--------------------------------+----------------------------+
| Vernon Lord, Finance Director | |
+--------------------------------+----------------------------+
| | |
+--------------------------------+----------------------------+
| Altium | Tel: 0845 505 4343 |
+--------------------------------+----------------------------+
| Phil Adams/Paul Lines | |
+--------------------------------+----------------------------+
| | |
+--------------------------------+----------------------------+
| College Hill | Tel: 020 7457 2020 |
+--------------------------------+----------------------------+
| Justine Warren/Matthew | |
| Smallwood | |
+--------------------------------+----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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