AGM Trading Update

 

TIDMIRC 
 
RNS Number : 6098S 
Individual Restaurant Company PLC 
21 May 2009 
 

Individual Restaurant Company plc 
 
 
AGM Trading Update 
 
 
 
 
Individual Restaurant Company plc ("the Group"), the leading restaurant operator 
with 34 premium casual dining restaurants trading under either the Piccolino 
brand (23) or the Bar & Grill brand (11), announces an update on trading prior 
to its AGM which will be held at 11am today. 
 
 
The economic backdrop remains difficult for consumer facing businesses. Whilst 
interest rates and fuel costs have reduced considerably, consumer confidence 
remains weak. The Board considers that trading conditions are likely to continue 
to be challenging for the time being. 
 
 
Recognising 2009 was going to be a more challenging year a number of costs 
saving measures were implemented which will generate GBP2.0m of savings in 2009 
and this remains an area of considerable focus for the management team. 
 
 
Against this background the Group's restaurants have performed well for the 17 
weeks ended 10 May 2009 and trading overall is in line with expectations. 
 
 
While the quantum and timing of openings will be determined by trading 
performance and the available headroom in our banking facilities, as stated in 
our last market update, the Board believes both the Piccolino and Bar & Grill 
brands and business models are robust, as demonstrated by their current trading 
performance. This underlines their significant roll out potential, putting the 
company in a strong position to take advantage of the first signs of returning 
consumer confidence. 
 
 
The Board remains confident of the future prospects for Individual Restaurant 
Company. 
 
 
21 May 2009 
 
 
 
 
Enquiries: 
 
 
+--------------------------------------+---------------------------------+ 
| Individual Restaurant Company Plc    | Tel: [phone]              | 
+--------------------------------------+---------------------------------+ 
| Steven Walker, Chief Executive       |                                 | 
+--------------------------------------+---------------------------------+ 
| Vernon Lord, Finance Director        |                                 | 
+--------------------------------------+---------------------------------+ 
|                                      |                                 | 
+--------------------------------------+---------------------------------+ 
| Altium                               | Tel: [phone]              | 
+--------------------------------------+---------------------------------+ 
| Mike Fletcher                        |                                 | 
+--------------------------------------+---------------------------------+ 
|                                      |                                 | 
+--------------------------------------+---------------------------------+ 
| College Hill                         | Tel: [phone]              | 
+--------------------------------------+---------------------------------+ 
| Justine Warren                       |                                 | 
+--------------------------------------+---------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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