The Individual Restaurant Company (IRC), formerly Bank Restaurant Group, today revealed that its outlets have performed well for the first eight months of its financial year with overall trading in line with expectations.

The owner of Piccolino and Bar & Grill restaurants said sales across the group rose 152% to £25.7m compared with £10.2m a year ago. This was largely driven by the £16.6m contribution from the take over of IRC in December.

The company added that the pipeline for future openings is strong as it is expecting an exceptional profit of £1.3m after closure costs of £500,000 from the disposal of Bank Aldwych to the property's landlord for £3.5m.

IRC recently scrapped plans to expand its Zinc restaurant chain saying it will focus on its Piccolino brand instead.

Bank purchased Zinc from Conran Restaurants – now D&D London – in late 2005 aiming to double the five-strong portfolio. 

Bank reveals details of Individual Restaurant Company acquisition >> 

Individual Restaurant Company reports strong Christmas trading >> 

IRC scraps Zinc expansion plans >> 

By Kerstin Kühn

E-mail your comments to Kerstin Kühn here.