Carluccio’s, the Italian restaurant group run by Simon Kossoff and owned by the Dubai-based investment group Landmark, has achieved record results for the year to 23 September 2012 and now plans further expansion.
Highlights (52 weeks to 23 September 2012)
- Turnover increased 13.7% from £85m to £96m.
- Operations strongly cash generative: EBITDA increases 21.7% to £13m.
- Profit before tax up 15.3% to £6.8m.
- 11 UK stores opened including four acquired from Chez Gerard and a first in Scotland.
- The first store, under a new franchise agreement, opened in Turkey at The Kanyon Shopping Mall in Istanbul. This takes the number of international stores to seven with sites in Ireland, Dubai, Qatar, Kuwait as well as Turkey.
- Dedicated £250,000 state-of-the-art training academy and kitchen opened in September 2012.
Current trading
- Trading has continued positively with an exceptional Christmas period up 21% on 2012.
- Since year-end, five further sites have opened in Worcester, Westfield London, Dorchester, Peterborough and Watford taking the total number of UK stores to 71. A further two stores in Leeds and Lincoln will open by end March 2013. A total of ten UK stores will be opened during the financial year.
- An eighth international Carluccio’s recently opened in Dubai airport, with a further three expected in the Middle East before the end of 2013.
- In December 2012, Carluccio’s achieved a 2* rating from The Sustainable Restaurant Association (SRA) for its work on sourcing, environment and social responsibility, the largest restaurant group to achieve this award. In addition, Carluccio’s have now raised over £925,000 for Action Against Hunger.
Commenting, CEO Simon Kossoff said:
“In a year characterised by a continuing difficult economic background and the disruption of the Olympics and The Queen’s Jubilee, Carluccio’s has continued to perform strongly. We have delivered excellent turnover growth and exceeded our target of opening 10 UK stores per annum. The UK remains at the heart of our development. We expect to be operating 76 UK stores by our year-end in a market, which we estimate has a potential of at least 150. The international opportunity for our brand continues to prove exciting. We expect to develop further in all our existing markets this year and to add new territories as we go forward.”
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