Last checked at 1 Feb 2018 07:00
01 February 2018
Comptoir Group plc
("Comptoir", the "Company" or the "Group")
Pre-Close Trading Update
Comptoir Group plc, the owner and/or operator of Lebanese and Eastern Mediterranean restaurants, is pleased to today announce a pre-close update for the 52 week period ending 31st December 2017.
Despite a difficult market backdrop, the Directors are pleased to report that trading for the 52 weeks to 31st December 2017 was above market expectations. The Company had a strong trading performance during the second half of 2017, ending in a busy December. As announced within the interim results of the Company, published in September 2017, the Company has focused on controlling its costs and improving its operational efficiencies and margins where possible. The Directors expect this focus to continue throughout 2018.
The Company opened two new Comptoir Libanais sites and one Shawa in the second half of 2017, together with the opening of a first international franchise operation in the Netherlands with HMS Host. The Company ended the year with 26 restaurants, with a further 3 franchise restaurants. The Company is on course to open two more restaurants in 2018 - Comptoir Birmingham (H1'2018) and Comptoir London Bridge (H2' 2018).
The Company is also pleased to confirm that it has completed the sale of its CPU for £2.6 million (after costs), as initially announced on 19th October 2017. The Company ended the year with net cash of £4.5million.
Enquiries:
Comptoir Group plc
Chaker Hanna Tel: 0207 486 1111
Cenkos Securities plc (NOMAD and Broker)
Bobbie Hilliam Tel: 020 7397 8900
This announcement contains inside information