Caffé Concerto owner notches up higher sales

Caffé Concerto’s owner, which has taken on nine sites once occupied by scandal-hit Patisserie Valerie, has boosted sales despite headwinds battering restaurant chains.

Privately-owned Lux Management & Investments Group, which is behind 23-year-old London-headquartered Italian chain Caffé Concerto, managed to notch up revenues of £27.4 million, up 9.3%, in the year to August 2018.

The firm said it was pleased with growth which was achieved during a period where the economic outlook was uncertain, the effects of Brexit were being digested, and there was competition from rivals.

New accounts also show pretax profits slipped to £1.6 million from £1.9 million. That was largely due to investments in the estate.

It has continued to invest in the current financial year and earlier this month it completed a £1.2 million refurbishment of its High Street Kensington site.