Comptoir Libanais losses widen as casual dining sector is served further bad news

The UK’s casual dining sector received more bad news this morning as the parent of Comptoir Libanais restaurants reported increased pre-tax losses.

It follows similar results and warnings from several other businesses in the casual dining sector, all of which have warned on a difficult trading outlook, especially in parts of London.

Read more: Out of the frying pan: Wildwood owner shares slump again as losses deepen

The figures

Pre-tax losses widened at Comptoir Group during the first half to £755,833, from £368,932 this time last year.

This was despite a 36 per cent boost in revenue to £13.1m compared to £9.6m previously.

Read more: Franco Manca owner shares drop 22 per cent on gloomy trading update

Why it’s interesting

Today’s announcement comes after Franco Manca owner Fulham Shore’s gloomy trading update and Wildwood owner Tasty’s losses also deepened.

Comptoir said it had come under greater cost pressure due to the national living wage, reduced consumer spending and the weaker pound.

But it also said today that the last few months of the period had been noticeably improved.

The group opened two new restaurants during the period, and one more recently, taking the total to 24 restaurants.

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What Comptoir Group said

Richard Kleiner, non-executive chairman of the company, said: “Notwithstanding the challenging environment that has subsisted since early 2017, I am pleased to see that, over the last few months, the business revenue has stabilised.

“The company is therefore in a good position to take advantage of the opportunities that the board believe will arise over the foreseeable future.

“I would also like to thank my fellow directors and the whole of the Comptoir Group team for their efforts over the interim period to the end of June 2017.”