Urban Dining remains optimistic despite pre-tax loss

Restaurant group Urban Dining has announced a pre-tax loss of £135,000 after its first full-year of trading.

The Tootsies restaurant chain owner blamed the loss on restructuring and administration costs linked to the purchase of the burger-bar brand, which it bought for £31.3m in November 2004.

Turnover was £4.1m at the 24 Tootsies, which are located at high street and retail/leisure sites.

Chairman Glen Tomlinson said: "We are pleased with the purchase [of Tootsies] and believe that there is potential to rapidly expand the Tootsies brand to 100 restaurants."

The London-based group will open eight Tootsies over the next year, with sites in Norwich, Oxford and Glasgow.

The company also underlined its commitment to buying additional restaurant brands, which it will help fund with £2.6m raised floating on the Alternative Investment Market in May 2004.

By Tom Bill

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