Afternoon:
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Diners keep appetite for Carluccio’s
1 Apr 2009Italian eaterie and coffee chain Carluccio's said today that the stores are trading well despite the economic crunch.
In the half-year to the end of March, turnover was up 14% compared to a year earlier — a pace of growth lower than some City analysts were expecting but still better than most rivals.
Three stores have been opened this year with success, including one in Earlsfield, South-west London.
Carluccio's shares have fallen by 60% in the last 12 months, opening today at 611/2p. That values the business at £34 million.
Founder Antonio Carluccio sold the chain for £10 million in 2005.
The 71-year-old recently accused younger rivals of being driven by fame instead of cooking. He said he didn't like Gordon Ramsay and dismissed Delia Smith as “the most boring person in the world”.
The group's first store in the Middle East opened in Dubai in March.
