Chez Gerard shrugs off recession
Tuesday 06 October 1998
GROUPE CHEZ Gerard, the restaurant operator, shrugged off economic woes yesterday with a 20 per cent increase in full year profits and an upbeat statement that "eating out is here to stay".
Neville Abraham, chairman (left), expressed confidence that branded restaurants would prove the most resilient in a downturn. He said a weakening economy could benefit the group as it would ease cost pressures such as wages and high street rents. He was speaking as Chez Gerard reported full year profits of pounds 3.65m, compared with pounds 3m the previous year.
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