Caffé Concerto owner notches up higher sales

Caffé Concerto’s owner, which has taken on nine sites once occupied by scandal-hit Patisserie Valerie, has boosted sales despite headwinds battering restaurant chains.

Privately-owned Lux Management & Investments Group, which is behind 23-year-old London-headquartered Italian chain Caffé Concerto, managed to notch up revenues of £27.4 million, up 9.3%, in the year to August 2018.

The firm said it was pleased with growth which was achieved during a period where the economic outlook was uncertain, the effects of Brexit were being digested, and there was competition from rivals.

New accounts also show pretax profits slipped to £1.6 million from £1.9 million. That was largely due to investments in the estate.

It has continued to invest in the current financial year and earlier this month it completed a £1.2 million refurbishment of its High Street Kensington site.

Recently the group rolled out its Café de Pierre bistro brand into some space previously used by Patisserie Valerie within Debenhams' department stores.