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IRC cries foul over World Cup

Piccolino owner sees profits dip thanks to football and snow

Published on July 28th 2010.


IRC cries foul over World Cup

Individual Restaurant Company plc, which owns the Piccolino and Bar & Grill restaurant brands, said the World Cup had led to a dip in the firm’s trading results over the last six months.

Like for like sales for the first three weeks of May were ahead of last year, however, and sales also picked up once England were knocked out of the World Cup by Germany.

The company said the three-week tournament, along with the snow that hit the UK in the first half of January, would shave around £600,000 from its pre-tax profits in the current financial year.

The firm will announce its interim results for the 26 week period to July 4, 2010 on September 13.

Like for like sales for the first three weeks of May were ahead of last year, however, and sales also picked up once England were knocked out of the World Cup by Germany. Not that they will be sharing any remaining profits with the German team.

“The Board is encouraged that excluding the exceptional events experienced in the first half trading was in line with the Board's expectations and like for like sales are now in growth,” it said in a trading statement.

“The Directors remain confident that the Group remains well placed to take advantage of the opportunities which should arise if the current underlying trading trends are sustained.”

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NortherngeezerJuly 28th 2010.

Bollox - Everywhere i went during the world cup was rammed, with venues making the most of it by putting 'offers' on. Yer'll be blaming leaves on the line next, sheeeeeeesh.

Daniel WildJuly 28th 2010.

Hm, maybe people were watching the match and having a beer and a bbq instead of eating over-priced (but still no-doubt delicious) food. Isn't there a half term in May too though? People on their holidays?

AnonymousJuly 28th 2010.

Maybe the drop has something to do with the drop in standards. I used to go there a lot but they kept cramming more tables in. I sometimes like to see fellow diners orders, maybe even smell them, but not taste them. Used to love the trofiette dish but that went downhill. I think they'll have been affected because they get a lot of passing trade rather than residents.

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