Tragus promises expansion after profits

Tragus has announced plans to open 20 new restaurant outlets next year, following a rise in profits across its venues despite a fall in like-for-like sales.

Tragus also announced its plans to open 20 new branches of its various outlets around the country in 2011.

The group has already opened 15 new venues this year and stated it saw the potential for further growth in the future.

The restaurant group, which operates Café Rouge, Strada and Bella Italia, posted a 2.6% rise in earnings in the year to 30 May 2010 of £45.3 million before tax, interest, depreciation and amortisation.

Turnover was up 5.9% to £277.4m although like-for-like sales dipped by 1.6%.

It currently operates 287 restaurants countrywide including 17 sites under the brands Huxleys, Belgo, Abbay, Amalfi, Potters and Ortega.

Tragus chief executive Graham Turner commented: “This is a resilient performance from Tragus against a challenging year for the sector.

“The overall consumer environment remains unsettled, however, Tragus’s strong portfolio of brands and our robust financial position means we are well placed going forward.”

Rupert Millar, 02.11.2010