D&D London issues first full-year figures

D&D London, formerly Conran Restaurants Limited, today issued its first full year financial results since its management buyout last September.

The company said it enjoyed a strong trading period in the 12 months to 31 March 2007 with like-for-like sales up 9% to £60.8m.

However, overall sales increased just 2% with the impact of the sales of the Great Eastern Hotel and the Zinc Bar & Grill business offsetting the increase in sales from the opening of the three Copenhagen restaurants at the end of last year.

Operating profit rose 40% to £4.2m compared with £3m in the previous year.

Chairman and chief operating officer Des Gunewardena said the results represent an “excellent” start to the company’s independent new life as D&D London.

But he warned the current instability in global financial markets may have an impact on this year’s trading.

“Turning to the current year, with current developments in the financial markets, we are obviously cautious about the future,” he said. “Whatever the short-term impact on trading, our long-term strategy of expanding our business will remain unchanged.”

In addition to the openings in Copenhagen, D&D opened London restaurant Skylon at the Royal Festival Hall as well as two new eateries in Tokyo during the financial year.

The company also recently acquired Image Restaurants, owner of London’s The Avenue, Kensington Palace and Launceston Place, for an undisclosed sum.

D&D London adds Image Restaurants to portfolio >>

Conran Restaurants starts a new life as D&D London >>

By Kerstin Kühn

E-mail your comments to Kerstin Kuhn here.