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09 Apr 2019 | 14:36

Comptoir swings to loss as expenses weigh

Restaurant owner Comptoir Group swung to an annul loss after rising sales were overshadowed by one-off expenses.

Pre-tax losses for the year through December amounted to £0.2m, compared to a profit of £0.5m on-year.

Revenue rose 16% to £34.3m, but the increasse was offset by expenses including asset write-downs and restaurant opening costs.

Gross profit rose 16% to £24.7m.

'Trading for the year to date has continued to be in line with board expectations, and we anticipate this momentum will continue into the second quarter of 2019,' chief executive Chaker Hanna said.

'Like-for-like sales growth has continued each month as newer restaurants reach anticipated maturity levels and the company is continuing to take a cautious approach to selecting new site openings.'

At 2:36pm: (LON:COM) Comptoir Group Plc share price was 0p at 8.88p

Story provided by StockMarketWire.com
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