Sosushi Year End Results

RNS Number : 7411F

Clear Leisure PLC

29 May 2013

 



29 May 2013

Clear Leisure Plc

("Clear Leisure" or "the Company")

YEAR END RESULTS OF SUBSIDIARY

The Company is pleased to announce that You Can Group srl ("You Can"), its 51 per cent. owned subsidiary which runs the Sosushi chain of restaurants, has today published its audited consolidated final results for the year ended 31 December 2012.

You Can recorded revenues for the year of EUR 1.7 million (2011: EUR 1.1 million), an EBITDA of EUR 177,156 (2011: EUR 61,626), and a consolidated profit of EUR 52,003 (2011: loss of EUR 562).

With the control of Sosushi now with Clear Leisure, the growth strategy is changing from franchising to directly owned restaurants. Some franchising stores will be acquired through a credit conversion with the franchisee.

Restaurants in Rimini, Udine, Lignano and Portorotondo will soon become direct owned locations, together with a number of new international locations opening within the Ora Hotel resorts. A new restaurant is planned to open in Milan early in June.

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For further information please contact:

Clear Leisure Plc                                                                                           [phone]

Alfredo Villa, CEO

Westhouse Securities                                                                              [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                               [phone]

Christian Taylor-Wilkinson

About Clear Leisure Plc

Clear Leisure Plc (AIM: CLP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Clear Leisure's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions. For further information, please visit, www.clearleisure.com

 

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