Restaurant group Carluccio's has come through a tough year relatively well, but faces more of the same going forward. Despite 8 per cent turnover growth, rising staff costs, utility bills and the impact of the euro on Italian food prices meant cash profits dropped £300,000 to £7.6m. Pre-tax profits plummeted 48 per cent to £3m after taking a £1.7 one-off charge against two stores.
Costs remain a concern following the implementation of legislation preventing the use of tips to take pay up to minimum wage levels. Management says it has so far mitigated this with operational changes. Trading is the other major concern. While management is encouraged by trading in the first eight weeks of the new financial year, 2010 could prove more challenging for the consumer.
Price: 91p
When: 30 October 2009
