Clapham House Group says it will continue to focus on expanding its Gourmet Burger Kitchen (GBK) brand in the UK and abroad as the chain turned in a robust performance for the year to 28 March.
“We remain confident of a GBK roll-out plan to reach at least 150 restaurants across the UK,” the company declared in a trading update, where it added that returns on capital investment in both new and existing GBK stores remained strong.
The group has grown GBK from six restaurants since it acquired the brand in November 2005 to 51 operating in the UK today, of which 29 are in Greater London.
It opened two new sites – at Bluewater in Kent and at Clink Street in London – during the past financial year and intends to add another two in the current financial year, dependent on site availability and the economic outlook.
Overseas, five more GBK’s opened under franchise, bringing the international tally to 15, with two more outlets waiting in the pipeline.
Clapham House said its second remaining brand, the seven-strong Real Greek restaurant chain, was trading satisfactorily, with business particularly strong in the Westfield, Bankside and Covent Garden branches.
It added that it was funding new openings from organic cash flow and was trading “comfortably within covenant limits”.
The group’s Tootsies burger brand collapsed into administration late last year.
In a separate move, Clapham House chief executive Paul Campbell has recently bought a significant personal stake in the Tortilla restaurant business, becoming a director of the company.
Clapham House ‘positive’ despite 20% drop in interim profits >>
Tootsies collapses into administration >>
The Real Greek joins FSA menu labelling scheme >>
Gourmet Burger King boss buys a stake in Tortilla >>
Gourmet Burger Kitchen website >>
By Angela Frewin
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