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Comptoir Group Plc issued a pre-close trading update for the 52-week period ending 31 December 2023, expecting to report approximately £31.5m in revenue (2022: £31.0m) and had net cash of £5.4m (H2 2022: £5.7m) at period end. During the year, the Company opened a new Comptoir Libanais restaurant in Ealing and closed a location in Leeds Trinity Centre, concluding the period with 21 managed and 6 franchise restaurants. Comptoir Group also identified further sites for development, including one in London's South Bank scheduled to open in April 2024.
| Date | 30 Jan 2024 |
| Time | 07:00:07 |
| Category | Trading updates |
| ID | 2818B |
30 January 2024
Comptoir Group Plc
("Comptoir", the "Group" or the "Company")
Pre-close trading update
Comptoir Group Plc (AIM: COM), the owner and/or operator of Lebanese, Middle Eastern and North African inspired restaurants is pleased to announce that trading for the 52-week period ending 31 December 2023 was in line with management expectations and, subject to audit, the Company expects to report a revenue performance of approximately £31.5m (2022: £31.0m).
During the year the Company opened a new Comptoir Libanais restaurant in Ealing which is performing ahead of expectations and closed a location in Leeds Trinity Centre. The Company has also identified further sites for development, including London's South Bank, which is due to open in April 2024. The Company ended the year with 21 managed restaurants and 6 franchise restaurants.
The Company retains a strong balance sheet, with net cash at 31 December 2023 of £5.4m (H2 2022: £5.7m) and the Board looks to the year ahead with confidence as the Company continues to expand and grow the Comptoir Group brands by sharing its passion for Middle Eastern cuisine.
Enquiries:
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Comptoir Group plc Beatrice Lafon, Non-Executive Chair Nick Ayerst, CEO Mayuri Vachhani, Interim FD
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via Camarco |
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Cavendish Capital Markets Limited (Nominated Adviser and Broker) Simon Hicks
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020 7220 0500 |
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Camarco (Media Contact) Jennifer Renwick Letaba Rimell
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About Comptoir Group
Comptoir Group PLC owns and operates 27 Lebanese restaurants, six of which are franchised, based predominately in the UK. The flagship brand of the group, Comptoir Libanais, is a collection of 22 restaurants located across London, nationwide and international Travel Hubs, including cities such as Manchester, Bath, Birmingham, Oxford and Dubai.
The name Comptoir Libanais means Lebanese Counter and is a place where guests can eat casually and enjoy Middle Eastern and North African food, served with warm and friendly hospitality and a bright vibrant environment.
The Group also operates Shawa, serving traditional shawarma through a counter service model in Westfield and Bluewater shopping centres, Yalla-Yalla with branches near Oxford Circus and in Soho, and entertainment venue Kenza, located in Devonshire Square, London.
The group has expanded internationally with its franchise partners HMSHOST, with restaurants in the Netherlands, Qatar and Dubai.