Harry Ramsden's reports £5 million pre-tax loss for FY17
They attributed the loss to the closure of some stores and tougher trading conditions.
Fish and chips chain Harry Ramsden’s has announced their financial results for the year ended last December 31, 2017 with a pre-tax loss of £5.0 million as compared to last period’s pre-tax profit of £1.4 million.
They also reported their turnover to be £14.9 million, lower than £16.3 million last FY16. Gross profit have also decreased from £11.7 million to £10.9 million.
“Following the strategy of opening new sites throughout the UK in late 2015 and into 2016, the business continue to review the most appropriate locations and formats in the trading estate going forward,” Harry Ramsden’s said in their report.
“During the year the business made decisions on a number of locations that were not viable in the longer term, resulting in an impairment charge provision of £2,390,952 in the period.”
(Photo credit: Harry Ramsden's Facebook)
