AGM Statement (7142H)
02 Juni 2011 - 8:00AM
UK Regulatory
TIDMIRC
RNS Number : 7142H
Individual Restaurant Company PLC
02 June 2011
Individual Restaurant Company plc
AGM Statement
Individual Restaurant Company plc ("the Group"), a leading
restaurant operator with 33 premium casual dining restaurants
trading under the Piccolino brand (22) and Bar and Grill brand
(11), is due to hold its annual general meeting ("AGM") at 11am
today at which Robert Breare, chairman, will make the following
statement:
"As reported in April, the Group experienced like for like sales
growth in each of the first three months of 2011. Encouragingly all
of this growth came from increased customer numbers and we have
continued to experience like for like sales growth in the same way,
over the six week period ended 15 May.
"The positive impact on EBITDA generated from the growth in
sales has been significantly eroded by cost inflation and we are
mindful that cost inflation (for example in relation to alcohol
duty, beef and dairy prices) is set to continue over the remainder
of the year. The ability of the Group to absorb most, if not all,
of these inflationary pressures will depend upon the buoyancy of
consumer spending going forward."
2 June 2011
Enquiries:
Individual Restaurant Company
Plc
Vernon Lord, Finance Director 0161 839 5511
Altium
Paul Lines 0845 505 4343
Adam Sivner
College Hill 0207 457 2020
Justine Warren
This information is provided by RNS
The company news service from the London Stock Exchange
END
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