Groupe Chez Gerard has put its expansion plans on hold in the face of economic uncertainty caused by the foot and mouth epidemic and a significant drop in tourism which is predicted to worsen after the terrorism attacks in the USA. The company reported pre-tax profits of £2m in line with its predictions in June reflecting falling tourism numbers. Although we reacted rapidly to the changes in the trading environment we have not been able to contain their impact fully, says chief executive David Williams. Sales increased 15 per cent to £38m reflecting the opening of six new restaurants last year. Three more sites have opened since year end and two more are planned in November. A Chez Gerard will open at Gatwick North Terminal and a second Livebait is to open in the City of London. Apart from a new Chez Gerard in Birmingham all other expansion is on hold.
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