Comptoir Group posts pre-tax loss despite robust r…

Lebanese casual dining chain operator the Comptoir Group has posted an uptick in revenue and earnings but was unable to lift out of the red when it came to pre-tax profits in its half-year report up to 30 June 2018.

Comptoir Group posted a 19.8% increase in group revenue to £15.7m and an increase in adjusted EBITDA which stood at £482,000, up from £191,000.

Meanwhile, the company posted a pre-tax loss of £417,000 – an improvement on the previous year’s loss for the period of £723,000.

Despite sitting in the red the result could set the chain up well for its full annual results. In 2017 the company posted a total pre-tax profit for the year of £457,000 after balancing out its half-year loss.

In his summary, chief executive Chaker Hanna read the growth and retention of sites as a boost and took aim at competitors in the industry.

He said: “A number of well-known national restaurant chains, with a fairly generic homogeneous offering and no real ‘differential’ in their proposition to customers, have fallen recent victim to the challenging marketplace.

“We have observed a significant increase in the level of promotional activity within the restaurant sector; however, we have refrained from discounting and instead have focused all of our efforts on further improving the customer offering.”

Responding to the report, Richard Kleiner, non-executive chairman, said: “I am pleased to announce that despite the continuing well-publicised turbulence within the UK restaurant sector and the increase in costs, Comptoir Group has proven its strength as a resilient operator with a robust set of results delivering performance as per the board’s expectations.

“This has been driven through revenue growth in the existing estate, focus on cost management, efficiencies, innovations and continued selective investment in new restaurants. Our proposition provides our customers with a unique offering in the marketplace with welcoming, warm team hospitality.

“I would like to thank the board for their continued dedicated focus as well as the teams in our restaurants and our supporting operations for providing our customers with a great experience.”

Comptoir Group appoints Mark Carrick as chief financial officer>>

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Post Author: MNS Master

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