Lebanese restaurant chain Comptoir to add new restaurants to menu

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Lebanese restaurant chain Comptoir said it plans to open eight more branches as it revealed a solid set of maiden results.

Its new restaurants, including on Gloucester Road and Soho’s Poland Street, are set to open before the end of 2016.

Marketed as a purveyor of healthy Arab cuisine, the chain — backed by Jonathan Kaye, the man behind Prezzo — was founded by Algeria-born Tony Kitous who arrived in the UK in 1988 at the age of 18. He opened his first restaurant in London, Baboon, when he was 22 and now has 15 sites in London and Manchester.

The latest expansion plans follow a 24.6% surge in sales to £9.7 million in the six months to June 30.

Chief executive Chaker Hanna said the firm saw “solid trading” in July and August. 

He said: “There is a degree of confidence of achieving the board’s expectation for the full 2016 financial year.”

Shares in the firm, which listed on AIM in June, edged up 0.7p to 80.2p. They listed at 50p.

Elsewhere in the food sector, restaurant operator Richoux saw shares drop 1.9p to 20.6p after admitting trading conditions had been difficult in the 28 weeks to July 10 due to stiffer competition and higher staff costs owing to the new living wage. 

Source Article from http://www.standard.co.uk/business/lebanese-restaurant-chain-comptoir-to-add-new-restaurants-to-menu-a3341201.html

September 9, 2016 |
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