Clapham House reports ‘satisfactory' trading

22 September 2008 by
Clapham House reports ‘satisfactory' trading

Restaurant group Clapham House experienced a "satisfactory" second quarter trading performance, according to a statement issued today.

The group, which is holding its annual general meeting, said it remained positive about its prospects for the rest of the year despite the tough economic climate.

Clapham said marketing initiatives had been particularly effective at boosting sales at its 53 Gourmet Burger Kitchen outlets and added that its six Real Greek restaurants in London also traded well.

The poor summer weather hit the outdoor branches of Tootsies, the group said, but this was off set by a good performance from its restaurants based in shopping centres.

Chairman David Page said: "Whilst we are understandably cautious on the UK economic outlook and its impact on consumer spending, we are confident that Clapham House is well positioned with an appropriate and sensible growth plan for the current market conditions."

He added: "We remain highly positive about the mid-term market prospects for our formats and the UK eating-out market."

Clapham House sold its Bombay Bicycle Club business for £4.4m in July to strengthen its balance sheet.

Last week competitor Tragus reported a 56% increase in full-year pre-tax earnings, a boost largely driven by last year's takeover of Italian high street chain Strada.

Tragus reports 56% increase in full-year pre-tax earnings >>

Clapham House sells Bombay Bicycle Club to Tiffinbites owner >>

Clapham House's David Page joins pub company Young's >>

Clapham House arrests slide at Tootsies >>

By Kerstin Kühn

E-mail your comments to Kerstin Kühn here.

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