Paramount on the right course

13 April 2012

PARAMOUNT, owner of the once-struggling Chez Gerard, Bertorellis and Livebait restaurant chains, today claimed its turnaround was well on track.

Chief executive Nick Basing, who joined last year after cash shell Paramount bought Groupe Chez Gerard, said all the brands were trading profitably and outlined plans to open new restaurants next year.

Basing has appointed a hands-on chief operating officer in the form of Phil Wickens - previously boss of ASK Central's Zizzi chain.

Among Basing's changes have been the sale of five sites from the 26-strong group, a refurbishment programme and better marketing.

Pre-tax profits before exceptionals for the half-year to 28 December were £900,000 against £400,000 in the same period the previous year on sales of £16m against £17.4m.

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