Comptoir Group PLC Pre-Close Trading Update (5558D)
February 01 2018 - 2:00AM
UK Regulatory
TIDMCOM
RNS Number : 5558D
Comptoir Group PLC
01 February 2018
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 31(st) December
2017.
Despite a difficult market backdrop, the Directors are pleased
to report that trading for the 52 weeks to 31(st) 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 GBP2.6 million (after costs), as initially
announced on 19(th) October 2017. The Company ended the year with
net cash of GBP4.5million.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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