AGM Trading Update

 

TIDMIRC 
 
RNS Number : 6283M 
Individual Restaurant Company PLC 
27 May 2010 
 

Individual Restaurant Company plc 
 
AGM Trading Update 
 
 
Individual Restaurant Company plc ("the Group"), the leading restaurant operator 
with 33 premium casual dining restaurants trading under either the Piccolino 
brand (22) or the Bar & Grill brand (11), announces an update on trading prior 
to its AGM which will be held at 11am today. 
 
Underlying trading patterns are showing some encouraging signs. Excluding the 
impact of the extreme weather conditions in the first two weeks of 2010, group 
EBITDA was in line with last year at the end of April.  Pleasingly, sales for 
the first three weeks of May have been marginally ahead of last year and this 
pattern has been across the Group, not just in the South East where our 
restaurants have been broadly in growth since the beginning of the year.  This 
is the first time such a positive comparison can be made over successive weeks 
since the first effects of the economic downturn were felt in the last part of 
2008. 
 
Nevertheless, consumer spending remains tight. Whilst the extent of the adverse 
effect of the Football World Cup is difficult to predict, a number of England 
games are taking place during key trading periods. As a result trading for the 
first half will be impacted by the performance of the Group during this period 
in June. 
 
The Board is confident that the Group remains well placed to take advantage of 
the opportunities which should arise if the current underlying trading trends 
are sustained. 
 
 
                                                                     27 May 2010 
 
 
Enquiries: 
 
+--------------------------------+----------------------------+ 
| Individual Restaurant Company  | Tel: [phone]         | 
| Plc                            |                            | 
+--------------------------------+----------------------------+ 
| 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 
   END 
 
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