REG.L Regulatory News (REG)

2 Nov 2007 07:00

Regent Inns PLC02 November 2007 2 November 2007 REGENT INNS PLC INTERIM MANAGEMENT STATEMENT Regent Inns plc ("the Group") announces its first interim management statementin relation to the 52 weeks ended 28 June 2008, as required by the revised UKListing Authority's Disclosure and Transparency Rules. Trading in the first 14 weeks of the reporting period was commented onpreviously in the Chairman's statement accompanying the announcement of theGroup's financial results for the 52 weeks ended 30 June 2007, under 'currenttrading, plans and prospects', as reported on 9 October 2007. Key points relating to the 14 weeks trading period to 6 October 2007: • Like-for-like sales down 1.0% on last year; Jongleurs venues have enjoyed a marginally better performance than the Walkabout estate. Sales measured against strong comparable figures which included the benefits of the hot summer of 2006 and the final stages of the FIFA World Cup. • Like-for-like food sales continued to perform strongly, up 8.5% on last year. • Post extension of the smoking ban to England on 1 July 2007, Bars with outside areas performed more strongly, up 2.1% on last year. In the period following 6 October 2007, trading has been influenced by England'sparticipation in the semi-final and final of the Rugby World Cup. Whilst salesin Walkabout benefited significantly on these days, sales in Jongleurs and OldOrleans declined. As previously stated, the Board remains cautious in its outlook forEntertainment Bars given the increasing likelihood of a slow-down in consumerspending, the full impact of the smoking ban and the uncertainty over England'sparticipation in Euro 2008. However, the Board is confident that investment inOld Orleans, along with operational improvements to the business will delivergrowth. In line with its normal practice, the Group expects to provide a further tradingupdate on 3 December 2007, the date of its Annual General Meeting. Enquiries: Regent Inns plc 020 8327 2540Bob Ivell, Executive ChairmanJohn Leslie, Chief Financial Officer Merlin 020 7653 6620Vanessa Maydon 07802 961 902 This information is provided by RNS The company news service from the London Stock Exchange