Jackson said that despite "overall difficult market conditions", the group had achieved "excellent" profits growth in its expanding Leisure Parks business, with Frankie & Benny's putting in a "record" performance as profits rose by 48% and like-for-like sales by 9.2%.
He said trading at High Street locations "remains competitive" although there were signs that tourist custom is returning to Garfunkel's. Est Est Est, which saw like-for-like sales drop 4.4%, and Caffe Uno, which saw only a marginal rise in l-f-ls, "are now showing the benefits of the foundations laid over the past six months," Jackson said after the company had "worked intensively in both to enhance the quality of food and service.
Overall turnover dropped 5.3% to £103.4m after the disposal of Deep Pan Pizza but pre-tax profit increased by 10.9% to £6.1m.
Jackson said the group was now concentrating on the Leisure Parks and Concessions segments, which showed the required characteristics of high returns on investment, good growth prospects and high barriers to entry.
City Centre Restaurants divisional performance
Six months ended 30 June 2002
High Street rests
Non core brands
Total all brands
Brand by brand
Frankie & Benny's
Est Est Est