LONDON (ShareCast) - Restaurant group Clapham House said current trading is satisfactory while new management, new menus and sales promotions has helped Tootsies sales stabilise.
Headline pre-tax profit rose 30% to £4.7m for the year ended 30 March while revenue also rose 30% to £59.5m.
The group, which owns Gourmet Burger Kitchen, said it has opened two new burger restaurant sites since end-March and is planning nine new GBK sites this year.
Clapham House took a £1.3m impairment charge related to several of its Tootsies restaurants, which have traded below expectations.
The group was also hit with a £0.7m write-down of fixed assets at its Canary Wharf restaurant, which was converted from Tootsies to GBK during the year.
Clapham House noted that while current trading is satisfactory, "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."
