LONDON (Alliance News) - Richoux Group PLC Wednesday reported a rise in profit in the first half of its financial year as it continues its expansion of the business with new restaurant openings.
The company, which owns Richoux, Dean's Diner and Villagio restaurants, said that its pretax profit in the 28 weeks to July 12 grew to GBP320,000 from GBP159,000 in the same period the year before, while revenue rose very slightly to GBP6.70 million from GBP6.68 million.
"We are pleased to announce another solid set of results. Towards the end of the period we opened our seventh Dean's Diner site at Hempstead Valley in Kent which is trading well. An eighth Dean's Diner site in Orpington will be opened before the end of the financial year," Chairman Philip Shotter said in a statement.
"Last month we also opened our fifth Richoux site in the Gloucester Arcade, Gloucester Road, London. This is the first Richoux opening for a number of years and we are delighted with the way that we have been able to capture the look and feel of the other Richoux restaurants in what is effectively a newly constructed unit. The early signs of trading from the restaurant are promising," he added.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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