Paramount puts Chez Gérard back on track

Refurbishment, better use of space and new menus have all helped to turn around the fortunes of Groupe Chez Gérard operator Paramount.

The group also announced that it has poached chief operating officer Phil Wickens from rival Ask Central.

Since buying the restaurant group in April last year, Paramount has taken its four brands - Chez Gérard, Livebait, Café Fish and Bertorelli - back into profit and reversed last year's negative sales.

Average sales across each of the group's restaurants have increased by 7%, while overall like-for-like sales went up by 1.4%. Net debt has been reduced from £3.9m to £1.3m following the disposal of five underperforming restaurants for a profit of £100,000.

Group turnover at the remaining 21 restaurants for the six months to 28 December 2003 fell to £16m (2002: £17.4m), but pre-tax profits jumped to £900,000 (2002: £400,000) and, after adjustments, to £1.3m.

Groupe Chez Gérard continues to be the group's most profitable brand, with plans to refurbish the flagship Opera House restaurant in London's Covent Garden later this year.

Commenting on the results, group chief executive Nick Basing said: "The business has been stabilised and we are on track with our turnaround programme. We are establishing a strong operating platform from which to position the business for the future."

Plans to roll out more Chez Gérard and Bertorelli restaurants both in London and across the country are now under way, with new spin-off brands also under development.