Carluccio's looking to expand
Last month, Carluccio's PLC, which runs Italian restaurants with integrated food shops, released its final results for the last financial year reporting a 20% growth in revenue as well as a 14% increase in profits before tax compared to the year before.
During the same period, 6 new stores opened up including the company's first store under franchise in Dublin, Ireland which means that it currently has a chain of 41 Carluccio's restaurants. Furthermore, Carluccio's is, it says, enjoying “measured international expansion” having signed a second franchise agreement for 6 countries in the Middle East with Landmark Group, one of the largest retail groups in the Middle East and India. According to the information provided, the first store is expected to open in 2009.
Stephen Gee, Executive Chairman, said: “I am delighted to report our seventh year of uninterrupted double digit growth in revenue and profit before tax. Many years of successful profit growth and cash generation have only been achieved due to the dedication and commitment of our staff at all levels of the organisation. This has been recognised by our peers in giving us more than 20 awards both for our restaurants and our shops. Most recently at the London Restaurant Awards we were voted "Best Chain Restaurant" and Good Housekeeping accorded us the accolade of "Best Gourmet Food Retailer.” (kbp)