Jongleurs share slump
Group warns of poor sales
The value of Jongleurs’ parent company Regent Inns has plunged by almost a fifth in just one day after it warned that business has slumped.Shares took a 19 per cent tumble after the company admitted sales had been disappointing compared to a year ago.
‘The start of the fourth quarter has seen a more challenging high street trading environment and less favourable like-for-like sales,’ it said in a statement.
Slower sales would hit profitability, the company added, but insisted the medium-term outlook was positive.
However it warned June’s trading across its venues – which also includes the Walkabout Australian bars and Old Orleans restaurants - would be slower than last year, when the football World Cup boosted sales.
Published: 25 May 2007
