Rosinter posts H1 net profit of 103 mln rubles
MOSCOW. Aug 14 (Interfax) - Rosinter Restaurants LLC, the Moscow regional operating subsidiary for OJSC Rosinter Restaurant Holding , closed the first half of 2009 with net profit of 103 million rubles to Russian Accounting Standards (RAS), compared with losses of 59.5 million rubles in the same period of last year, the company said in an earnings report.
Revenue fell, by 3% year-on-year to 2.49 billion rubles, and gross profit edged down to 1.94 billion rubles from 1.96 billion rubles.
The company put the profit down to effective cost management, marketing and pricing strategies, and the stagnation in revenue down to the economic situation in Russia.
Rosinter Restaurants LLC has 162 restaurants in Moscow and its environs, including 56 franchisee restaurants.
The Rosinter Holding's consolidated revenue grew 4% year-on-year in Q1 2009 to 4.1 billion rubles. Same-store sales shrank 16%.