AGM Statement (7142H)

TIDMIRC

RNS Number : 7142H

Individual Restaurant Company PLC

02 June 2011

Individual Restaurant Company plc

AGM Statement

Individual Restaurant Company plc ("the Group"), a leading restaurant operator with 33 premium casual dining restaurants trading under the Piccolino brand (22) and Bar and Grill brand (11), is due to hold its annual general meeting ("AGM") at 11am today at which Robert Breare, chairman, will make the following statement:

"As reported in April, the Group experienced like for like sales growth in each of the first three months of 2011. Encouragingly all of this growth came from increased customer numbers and we have continued to experience like for like sales growth in the same way, over the six week period ended 15 May.

"The positive impact on EBITDA generated from the growth in sales has been significantly eroded by cost inflation and we are mindful that cost inflation (for example in relation to alcohol duty, beef and dairy prices) is set to continue over the remainder of the year. The ability of the Group to absorb most, if not all, of these inflationary pressures will depend upon the buoyancy of consumer spending going forward."

2 June 2011

Enquiries:

 
 Individual Restaurant Company 
  Plc 
 Vernon Lord, Finance Director    0161 839 5511 
 
 Altium 
 Paul Lines                       0845 505 4343 
 Adam Sivner 
 
 College Hill                     0207 457 2020 
 Justine Warren 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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