Groupe Chez Gérard expects 20% shortfall

Thursday 28th June 2001 00:00

Groupe Chez Gérard has warned that its profits for the year to 1 July will be lower than expected.

The London-based restaurant group said this would be because of a downturn in London tourism and the foot-and-mouth outbreak. It expects profits before tax of at least £2m.

The company said incoming tourism was down by about 20% and this had affected sales in its Signature and Chez Gérard restaurants.

Its programme of visitor packages with London theatres and hotels has been affected by a fall in tourists, particularly from the USA.

In the regions, sales at its restaurants have progressed more slowly than expected. This has been particularly the case at the Chez Gérard in Manchester which, after a good start, has "failed to trade up to expectations".

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