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Carluccio's to expand as profits grow

28 | 03 | 13

Italian restaurant chain Carluccio's plans to open ten new venues in the UK this year.

It made the announcement alongside the publication of its financial results for the 12 months up to September 23rd 2012, which show record growth.

The company's pre-tax profits rose by 15.3 per cent to £6.8 million. Its turnover increased by 13.7 per cent, up from £85 million to £96 million.

This positive trend has continued and the chain experienced an exceptional Christmas period, which was up by 21 per cent on the previous year.

Carluccio’s installed kitchen equipment at 11 new restaurants in the period covered by its financial results, including its first Scottish site in Aberdeen and four outlets that were acquired from Chez Gerard.

It has launched a further five new venues in the current financial year in Worcester, Westfield London, Dorchester, Peterborough and Watford. Sites in Leeds and Lincoln will be opened by the end of this month.
Simon Kossoff, Carluccio’s chief executive, commented: “We have delivered excellent turnover growth and exceeded our target of opening ten UK stores per annum.

“The UK remains at the heart of our development. We expect to be operating 76 UK stores by our year-end in a market that we estimate has a potential of at least 150."

The company is also expanding outside of the UK and has opened its first restaurant in the Turkish city Istanbul, after signing a new franchise agreement. It now has eight international sites spread across Ireland, Dubai, Qatar, Kuwait and Turkey. A further three venues are expected in the Middle East before the end of the year.

"The international opportunity for our brand continues to prove exciting. We expect to develop further in all our existing markets this year and to add new territories as we go forward," Mr Kossoff stated.

Other developments carried out by Carluccio's include the development of a dedicated £250,000 state-of-the-art training academy and kitchen that was opened in September 2012. ADNFCR-16001031-ID-801564227-ADNFCR


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