Gregory’s serves up business worth €3.4 mln in 10 months

“The main element contributing to the rise in turnover compared to the same period last year was an increase in sales in existing locations,” said Gregory’s General Manager, Cristian Mesaros.

The company’s representative is estimating turnover from its present ten locations for the entire year to amount to 19 percent, to €4 mln, from total sales in 2006 of €3.35. Market players estimate the local fast-food market to be worth €1.5 billion.

To date the Greek chain of restaurants has invested over €2.5 mln in its local Romanian branch, of which €500,000 were allocated for 2007 for existing locations and the opening of new ones, the latter costing some €150,000, depending on size of the restaurant. It aims at middle and upper middle income clients.

According to the latest information available, main shareholders of Gregory’s Romania are Xenisis Enterprise, with 31.5 percent, the Greek Gregory’s Mikorgeymata company, with 27.1 percent, and Gregory’s Micromeals (23.1 percent), Prudent Investments (11.21 percent) and Debvale Limited (4.88 percent).

Gregory’s Romania has two brands on the Romanian market, Gregory’s since 2000, and Coffeeright introduced in 2002, the latter sharing Gregory’s locations, and both to continue to develop side-by-side.