World Cup boost for Walkabout

By THIS IS MONEY
Updated:

 

WALKABOUT and Jongleurs owner Regent Inns today said trading for the year had met expectations as it felt the positive impact of the World Cup.

The firm's financial year ended on July 1, the same day as England crashed out of the competition to Portugal.

But Regent, which also runs the Bar Risa chain, said it reaped the benefit of the five England games as well as Australia's progression to the second round of the competition.

Like-for-like sales for the year slipped 0.4%, but the company said there had been positive like-for-like growth at Walkabout, which is the largest part of the estate.

Executive chairman Bob Ivell said: 'Regent has continued to perform in line with expectations and benefited from strong trading at the time of the World Cup.

'The board remains confident of the ongoing prospects for Walkabout and Jongleurs, our two premier brands, and continues to seek value enhancing opportunities for the company.'

In February, the company reported sales had slowed after it adopted 'an extremely diligent' approach to new licensing laws.

The group said a series of self-imposed restrictions, including a reduction in capacity at two major venues, had depressed revenues since late October.

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