Ivy owner reports profits increase

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Belgo has reported a 33% increase in full-year pre-tax profits.

LONDON (Brand Republic) – Belgo -- the London restaurant group which owns the advertising and media industries’ favourite restaurant, the Ivy -- has reported a 33% increase in full-year pre-tax profits.

Net income for the 12 months to July 2 increased to £2.9m from £2.18m for the same period last year. Revenues rose to £35.7m compared with £27.1m last time.

The company’s share price remained unchanged yesterday at 4p. Shares in the company have dropped 45% in the past year.

Belgo Group -- which, as well as owning The Ivy, owns Le Caprice and J Sheekey -- said its restaurants enjoyed a good year, but said its operations in New York and Dublin were disappointing.



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