AmRest results reflect condition of restaurant business
2010-07-28
AmRest, the operator of KFC,Pizza Hut and Burger King in Poland and the USA, has reported a 2.5% year-on-year reduction in sales in Q2 2010 to PLN 500.9m (€125.2m), according to a report in Parkiet. When calculated in zloty, the restaurateur showed a 1.5% reduction in sales in the region of Central and Eastern Europe, and in the USA its sales revenues was reduced by 4.2%. Experts, however, emphasise that there was no significant change in sales when calculated in local currencies.
However, the restaurant market is expected to continue to decline in 2010. According to PMR estimates, in 2010 there could be a 1.5% reduction in Poland. In 2009, restaurateurs reported a 4% decline to PLN 18.5bn (€4.5m), in comparison with 2008. The market is expected to grow again in 2011.
Despite the disappointing situation on the market AmRest plans to continue to invest in Central and Eastern Europe. In 2009, it opened 50 restaurants in the region and up to 70 more are scheduled for 2010. In 2011, AmRest plans to set up around 100 establishments in the region.
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