City Centre adds Nachos to menu
Thursday 06 April 1995
City Centre operates 178 other restaurants, comprising 42 Garfunkel's, 104 Deep Pan Pizza, 13 Chiquito, eight Caffe Uno, five diners and a few other ribs outlets.
James Naylor, chief executive, said the Nachos chain fitted well with the group. The sites are slightly smaller than the Chiquito sites, more bar-orientated and have a younger customer profile.
Results for 1994 were also announced by City Centre, showing that the group recovered strongly. Profits before tax rose 11.3 per cent to £14.1m, although growth was mostly attributable to the addition of new sites. "Like-for-like results were much the same. There is low inflation. We are not putting prices up and customers are still looking for value," Mr Naylor said.
Total turnover was £103.4m, up from £95.2m. The recovery in the past five months has spilled into 1995, and trading results so far this year are ahead of the comparable period.
Capital expenditure topped £11m last year and Mr Naylor said he would be surprised if the figure for 1995 did not rise to at least £18m, and possibly £20m.
There are plans to open another 20 sites this year, excluding the start- up of a chain of roadside diners. The company is also going to roll out a new format for its pizza business.
"Pizza is still profitable but there is too much around. We are extending the menu, with more pasta and other Italian dishes," Mr Naylor said.
City Centre has ample cash to fund its development and refurbishment programmes. The cash pile grew in 1994 from £14m to £26.8m.
Shareholders are being rewarded with a 12.4 per cent increase in the dividend to 2p. The cover is unchanged at 2.51 times, with earnings per share up from 4.52p to 5.01p.
- 1 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 2 Why this father didn’t hide his daughter’s heroin overdose in her obituary
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
- 5 The most powerful passports in the world
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Smartphones are making children borderline autistic, says psychiatrist
Nepal earthquake: The race is on to help thousands trapped under rubble around Kathmandu, while remote villages face a long wait for help
Royal baby: Live updates as superbug closes ward at St Mary's Hospital where Duchess of Cambridge is due to give birth
Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
Rupert Murdoch berated Sun journalists for not doing enough to attack Ed Miliband and stop him winning the general election
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...