Belgo profits dip
29 February 2000
Belgo, the London-based restaurant group, saw pre-tax profits drop from £1.9m to £1.6m during the 26 weeks to 26 December 1999.
Sales were up from £11.1m to £17m, the company said yesterday.
The group warned in January that its profits for the year as a whole were likely to fall below expectations. This was because of slow sales at its newly opened restaurants in New York and Dublin.
Chief executive Andy Bassadone said steps were being taken to improve the performance of these restaurants.
Trading across the group had shown a marked improvement since September, he added, with restaurants Le Caprice, the Ivy and J Sheekey performing particularly well.
