Richoux Group, the owner and operator of Richoux, Dean’s Diner and Villagio restaurants has just announced its unaudited interim results for the 28 week period ending 10 July 2016.
The company reports that turnover increased 5.7% to £7.08m (2015: £6.70m), and adjusted EBITDA decreased to £0.28m (2015: £0.79m). Loss after tax stood at £0.58m (2015: profit £0.32m).
With twenty-three restaurants trading, two new Dean’s Diners and one new Villagio opened.
Philip Shotter, Chairman, said, “In line with a number of other restaurant groups, trading conditions have been difficult during the period as we continue to face the challenge of increased competition at a number of sites as well as increased property and staff costs, the latter due largely to the impact of the living wage.
'We are pleased to have opened two further Dean’s Diner restaurants and one further Villagio restaurant, although handover of what will be the tenth Dean’s Diner site has been delayed until 2017 due to delays on the part of the developer. A decision has also been made to recognise impairment charges against three sites which are underperforming”