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Rosinter Posts Loss

By The Moscow Times

Restaurant group Rosinter reported Wednesday a first-half net loss of 75 million rubles ($2.38 million), compared to a 322 million ruble net loss a year ago.

Rosinter, which operates the Russian franchise of TGI Friday's, also said revenue increased 3 percent to 5.19 billion rubles.

EBITDA in January to June 2012 stood at 213.5 million rubles after a loss of 51.4 million rubles, Rosinter said in a statement.

The company, struggling to win customers with its casual dining formats, recently appointed a new chief executive, Kevin Todd.

(Reuters)

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