Clapham House Group – the restaurant chain which runs Gourmet Burger Kitchen – revealed today that full year revenues were up by 30% to £59.5m but warned it was 'cautious' of the UK financial outlook.
The group – which also operates Tootsies, The Bombay Bicycle Club and The Real Greek – also said that profits for the year ending March 30 had incrteased by 30% up to £4.7m.
Earnings per share would be up by 27% to 11.8p, added the group.
David Page, executive chairman, of the Clapham House Group, said: “These results again show substantial growth in sales and profits for Clapham House.
“We are continuing to expand all our businesses at rates that are, we feel, appropriate for this stage of the UK economic cycle.
“Trading to date in the new financial year is satisfactory although, like many other, we are cautious regarding the UK financial outlook.
“We do, however, remain highly positive about the mid term prospects for our brands and the UK eating out market.”
The group said that it had opened 24 restaurants during the past year and that net debt was £16m – up from £9.5m last year.
It also commented that current trading was 'satisfactory'.
Page said that a Dexters restaurant was expected to launched this summer at Bristol airport and if successful could lead to an expansion of the Tootsies/Dexters brand across UK airports.
He also said the group was committed to neutralising the adverse effects of increased costs with 'better buying'.
He concluded: “In December 2007, we made the strategic decision to reduce our opening programme for the financial year 2008/09.
“Whilst we are continuing to grow and expand all of our businesses we believe that this cautious approach is wise in the current economic climate.
“Trading to date in the new financial year is satisfactory although, like many others, we are conscious of the UK economic outlook. We do, however, remain highly positive about the mid term market prospects for our brands and the UK eating out market.”
