To: Tim Reid, Weinburg Investments
From: Dmitry Zimin, Director, Bon Appetit PLC
Subject: Bon Appetit development
Date: 13 October 2010
The aim of this report is to give the figures concerning recent developments of Bon Appetit to present its achievements and plans for the future improvement. In the attached materials one can find a diagram, clearly showing the company’s performance during the last 3 years. The graph will also be analysed in the report.
Bon Appetit is a group of companies specialising in catering. It includes such restaurant chains as Bon Appetit (22 restaurants, higher-income groups oriented), The Seashell (10 restaurants, tailored for middle-income clientele) and Innovia Cafes, acquired last year (16 cafes, suitable for all income groups and family-orientated). The company is planning to open 10 new restaurants next year and further 20 within the next three years. With a view to reach these goals, Bon Appetit found it suitable to buy the El Morito chain of 12 Mexican-style restaurants, however this idea met quite a great deal of criticism and it is just going to be negotiated.
In the attached materials one can get familiarized with a diachronic diagram, comparing the progress of 3 companies (Bon Appetit, The Seashell and Innovia Cafes) in 3-years time in terms of turnover and pre-tax profit. As it becomes clear, the turnover of all three companies grew considerably: in Bon Appetit it boosted from 4 million pounds 3 years ago to 10,5 million 2 years ago and to 17 million during the last 12 months; The Seashell’s turnover increased from 3,5 million pounds 3 years ago up to 6 million 2 years ago and to 10,5 million last year; for Innovia Cafes the figures are correspondingly from 4 million 2 years ago to 10,5 million in the last 12 months. The data shows that the growth rate in turnover is really high. Concerning pre-tax profit, Bon Appetit branch also acted perfectly – 3 years...