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Gourmet Holdings set to grow business

07 October 2005

Gourmet Holdings has announced strong maiden results as it steps up its expansion plans.

The Richoux restaurant and Bel and the Dragon gastro pub operator said it was now ready, having refurbished its existing sites, to hit the acquisition trail.

Chief executive Gareth Lloyd-Jones said: "We have achieved a lot in the past year. Having taken the time to get the growth strategy and operation right this year we intend to increase the rate at which we open new restaurants."

Lloyd-Jones said the company's strategy would be simple, namely constructing a strong UK restaurant business capable of long-term growth servicing a British public increasingly opting to eat out.

Turnover for the year to 26 June increased by 29% to £9.7m (2004: £7.6m). Operating profit rose to £400,000 (2004: £100,000).

Gourmet Holdings has four Richoux restaurants, three Bel and the Dragon pubs and three unbranded gastro pubs.

By Chris Druce

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