Latest news
Renewed confidence in City Centre Restaurants as sales improve
City Centre Restaurants is enjoying signs of recovery with an improvement in trading since the beginning of year, it was announced at its AGM yesterday. Chair John Jackson, said the group had made 'an encouraging start to the year' with Caffe Uno showing an increase in sales from a negative 5 per cent in January to a positive 2 per cent in May. Like for like sales for the Frankie and Benny's brand rose by 5 per cent, and Garfunkels by 1 per cent. The Est, Est, Est brand, which underwent a major image overhaul, is also showing 'encouraging signs of recovery'. Jackson also told the AGM that the board was still exploring opportunities to dispose of some of the brands that were not considered part of the forward-moving strategy and would update shareholders when appropriate. Following the AGM, renewed confidence led to a 6.5 per cent rise in the share price to 49p.