Richoux Group Regulatory News (RIC)

17 Jul 2008 07:00



GOURMET HOLDINGS PLC 

("the Company")

AGM Statement 

At the AGM of the Gourmet Holdings plc, to be held later today, Philip Shotter, Non-Executive Chairman, will provide the following summary on the Company's recent activities:

"We are encouraged by the trading performance of the Company so far this year in both our Richoux and Amato brands. The Company has recently refurbished three of its four Richoux restaurants and these restaurants are now benefiting from increased trade. Furthermore, the existing Amato Café/Patisserie in Old Compton Street, London W1 continues to trade satisfactorily.

The Company is continuing to work on the development of the Amato concept. It is, at present, intended to be a flexible concept trading as a café/restaurant from premises with an A3 planning use and as a café only (trading as Amato Piccolo) where an A1 retail planning use only exists. The Company opened the first Amato Piccolo in Charlotte Street, London W1 on 7th April 2008 and the first of the new Amato café/restaurants opened in Muswell Hill on 31st May 2008. Both sites are trading in line with expectations. 

The Company is now in advanced negotiations to acquire three further leasehold properties, two of which will trade under the Amato brand, with the other property to trade as a Richoux. This is in line with the Company's expectations as set out in the Chairman's Review in the last Annual Report. 

The Company continues to source further suitable sites for development, as either Amato or Richoux, for opening in 2008 and 2009.

The Company has also now moved into its new head office at Cochrane Mews, St John's Wood and in April 2008 completed the purchase of a Central Kitchen. The Central Kitchen is expected to be operational by the end of September 2008."

17 July 2008

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