Revenue rises but profit falls at Carluccio's
Revenue at Carluccio's has increased 2.7% to £140m for the year to 25 September 2016, although profits at the restaurant group fell.
EBITDA decreased by 11.9% to an adjusted EBITDA of £13.2m. Pre-tax profit was £982,000, down from £5.2m thanks to £4m of exceptional costs related to impairment charges for assets.
Carluccio's opened 11 restaurants during the period, in locations including Ilkley in West Yorkshire, the Metro Centre in Newcastle, and the Marriott Hotel at Regent's Park in London. Two locations closed. Since the year end, Carluccio's has opened a further two sites.
The company said that since the Brexit vote "economic growth in the UK remains uncertain and therefore discretionary expenditure, including eating out of the home, could be adversely impacted".
However, it said its business model remained "principally debt free" and that directors were able to adjust capital expenditure if necessary, in order to offset any cash impact from softer trading conditions.
Carluccio's rolls out virtual reality dining experience >>
Brits are ruining spaghetti bolognese, says Antonio Carluccio >>
Carluccio's appoints new chairman >>
Videos from The Caterer archives
