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Individual Restaurant Company reports strong Christmas trading

31 January 2007 by
Individual Restaurant Company reports strong Christmas trading

Individual Restaurant Company (IRC) said it experienced strong trading over the Christmas period, with sales largely driven by six new openings completed during the year.

The company, which predominantly trades under the Piccolino and Restaurant Bar & Grill formats, said total sales were up 30% across its entire restaurant estate for the five weeks to 31 December 2006. Sales increased by 59% at its 17 Piccolinos restaurants, while its Bank and Zinc estate fell 2%.

IRC agreed to a reverse takeover from Bank Restaurant last November and said the integration of the two companies is "currently underway and progressing well".

It also said that plans to introduce its key business drivers into the Bank and Zinc sites are on track to be in place by the end of March. The group plans to open six new restaurants in the current year with three new sites already secured.

IRC chief executive Steven Walker said: "I am delighted to report such positive trading over the Christmas period and continued progress with the integration of our two companies. We remain on target to have completed three new openings in the first half."

Bank aims for quality sites >>

Reverse takeover deal sees IRC take control of Bank >>

Bank Restaurant Group poised to sell to Piccolino owner >>

By Kerstin Kühn

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