City Centre Restaurants announces interim results

City Centre Restaurants (CCR) today blamed difficult trading conditions for the fall in its interim pre-tax profits.

The company, whose restaurants include Caffé Uno, Garfunkel's, Wok Wok, Chiquito's, Est Est Est, Frankie & Benny's and Deep Pan Pizza, reported pre-tax profits of £5.1m for the six months ended 30 June 2000.

Last year this figure was higher at £5.9m.

Turnover increased 6% to £103.1m, compared to £97.3m last year.

Since the end of April trading at the group's restaurants has been variable.

Sales were particularly badly affected by the Euro 2000 tournament in June and, since then, by poor weekend cinema attendances at leisure parks in August.

A number of the restaurants were also closed during the first half of the year for refurbishment.

Chief executive James Naylor said in the results statement: "With the disruptive first half period now behind us and the benefits of our refurbishment programme and important trading month of December ahead of us, we are confident there are grounds for optimism for the remainder of the year."

Eighteen restaurants opened in the first half of the year, four were rebranded and 26 were refurbished.

Eleven restaurants are scheduled to open in the second half of the year, four of which have already done so.

Seven under performing restaurants have been sold so far this year.

CCR operates 307 restaurants.

By Louise Bozec louise.bozec@rbi.co.uk