Monday, August 24, 2009

Trading performance impacted. Combination weaker volumes softening, levels licensee support. Trading challenging market conditions. Wider recessionary economic significantly reduced consumer confidence impacted disposable income leisure activities. Rain unhelpful. Focus managed estate stabilisation heightened promotional activity sharper pricing new food menus improved service. Like-for-like 1.4% down 2.3% first 0.6% second. Disposals non-core reduction £3m. Operating margins impacted inflation regulatory, food energy cost increases promotional discounts drive sales. “confident” longer term “cautious” near “due to the lack of forward visibility on trading outlook”.


We haven't a really clue about what's goign on.

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