Sbarro Russia sees revenue decline 22% to 1.07 bln rubles in H1
MOSCOW. Aug 13 (Interfax) - Revenue at the Sbarro chain of restaurants in Russia fell 22% in the first half of 2009 year-on-year to 1.07 billion rubles under Russian accounting standards, down from 1.37 billion rubles in the same period last year, chain operator Brothers and Co LLC said in its financial statement.
Gross profit fell 31.3% to 657.5 million rubles, down from 957 million rubles in the same period last year. Net profit fell to 2.3 million rubles from 3.8 million rubles.
There were 98 Sbarro restaurants in the chain as of the end of June, down from 110 at the end of March and 114 at the end of June 2008.
Despite the decline in sales, Brothers expects to finish the year as the third largest fast food chain in Russia after McDonald's and Rostik's-KFC.
Brothers and Co is part of the G.M.R. Hospitality Planet restaurant holding, which is developing the Vostochny Bazar, Viaggio and Bash-na-bash chains with 42 restaurants in all.