World Cup hurts Individual Restaurant Company's profits

By Martyn Leek

- Last updated on GMT

Related tags: Individual restaurant company, World cup

Individual Restaurant Company  has seen its profits hit by poor weather and the World Cup
Individual Restaurant Company has seen its profits hit by poor weather and the World Cup
Piccolino operator the Individual Restaurant Company has warned that bad weather at the start of its year and the impact of the World Cup could lead to a £600k drop in pre-tax profits

Piccolino operator the Individual Restaurant Company (IRC) has warned that bad weather at the start of its year and the impact of the World Cup could lead to a £600k drop in pre-tax profits.

However, in a trading update ahead of its interim results for the 26 weeks to 4 July 2010 it said the group’s earnings “remain heavily weighted towards the second half”.

It added that since England’s exit from the World Cup it had seen a return to like-for-like sales that had been achieved at the start of May, which were ahead of the same period last year.

In a statement, IRC, which is led by chief executive Steven Walker, said: “The board is encouraged that excluding the exceptional events experienced in the first half trading was in line with the board's expectations and like for like sales are now in growth.

“The directors remain confident that the group remains well placed to take advantage of the opportunities which should arise if the current underlying trading trends are sustained.”

Martyn Leek is news editor of BigHospitality's sister title M&C Report.

Related topics: Business

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