Individual Restaurant Company, which is based in Manchester, operates 23 Piccolino venues and 11 Bar & Grills around the country. In 2008, it opened a total of six sites.
The firm, led by chief executive Steven Walker, today unveiled pre-tax profits of £1.155m for 2008, compared with £2.581m for the 14 months to the end of December 2007. Revenues climbed 17 per cent to £52.5m.
Shares gained 3.7 per cent or 0.5p to 14p today after Mr Walker said: "The measures we have taken to evolve both of our brands are proving successful.
"This, together with an ongoing focus on tight cost control, will continue to underpin a resilient performance from both brands, and the directors remain confident about the future prospects for the group."
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