Regent more optimistic as sales rise

Regent Inns saw like-for-like sales rise by 2.2% in the six months to December, the late-night bar operator said today.

The increase in the 23 weeks to 11 December is a sign that things may be turning around for the company, which has been struggling of late.

At its annual meeting for shareholders, executive chairman Bob Ivell said Regent was making "good progress" in restoring the company's fortunes and confidence.

A major review of the business was underway, and would be unveiled shortly, he added.

Ivell also announced a shake-up of the company's non-executive directors.

Former chairman Peter Savage, who only reverted to a non-executive role in October, is to step down from the end of January, while non-executive Nigel Potter is also leaving the board.

Restaurant Group chairman Alan Jackson, who helped to create and develop the Beefeater, Travel Inn and TGI Friday brands, is being brought in instead.

The moves come on top of the appointments of Ivell and chief financial officer John Leslie in October.

Theses in turn came after the abrupt departures of chief executive Stephen Haupt and finance director Simon Rowe.

by Nic Paton

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