Comptoir cuts losses in first half despite subdued sales

(Sharecast News) - Restaurant group Comptoir almost broke even over the first half, reducing losses substantially despite only meagre sales growth, as the company kept a tight control on costs amid challenging conditions across the industry. Comptoir, which owns and operates 20 Lebanese, Middle Eastern and North African inspired restaurants with a further six franchise sites, reported a pre-tax loss of £0.07m for the six months to 29 June, compared with a loss of £2.21m the year before, with cost of sales and admin expenses falling sharply.

On an adjusted EBITDA basis, the company swung to a profit of £0.08m, from a loss of £0.57m the year before.

Revenues were 0.6% higher at £16.0m, with sales rising 1.6% on a like-for-like basis.

"The group's operational controls continue to be strengthened however economic conditions and cost pressures facing our brands are challenging. Despite an improving trend, this is still short of what we expect to be delivering," said chief executive Chaker Hanna.

Meanwhile, chair Richard Kleiner said the hospitality sector was still experiencing "significant challenges", owing to cost of living pressures and economic uncertainty.

"Prudent capital management has positioned the group well to face these challenges, and we continue to strive to offer a genuine value for money, exceptional experience for our guests despite what economic challenges are facing the industry in 2025 and beyond," Kleiner said.

Shares were 5.3% lower at 4.5p by 1050 BST.