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Yates' trading recovery
Yates Group has reported a turn-around in trading performance and has appointed Mark Jones from Pizza Hut as chief executive.
Full-year results showed a turnaround in like-for-like sales, from a decline of 1.4 per cent in the first half to a rise of 1.2 per cent in the second half, together with a rise in margins.
Mike Hennessy, executive chair, said the company is focussing on expansion: 'The major push is now the acquisition of new sites to replenish the pipeline, which was culled due to poor site selection and the prospect of inadequate returns on investment.' New sites are being sought for both the Yates' and Ha!Ha! Bar and Canteen brands. www.yates-group.com