Gondola sales up 4.2% but reports a loss

16 November 2011 by
Gondola sales up 4.2% but reports a loss

Restaurant group Gondola has reported an increase in sales of 4.2% to £556.2m for the year to 26 June 2011.

The company, which owns the PizzaExpress, Zizzi, Ask, Byron and Kettners brands, also saw its earnings before interest, depreciation and amortisation (EBITDA) rise by 1.9% to £114.5m.

But it reported a loss for the financial period of £41.2m after financing costs.

The firm, which is backed by private equity house Cinven, opened 42 new restaurants over the period and operates in 10 countries including the UK.

It said pressure on consumer spending would continue to present a challenge but it was optimistic about the growth prospects for its brands.

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By Neil Gerrard

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