OREANDA-NEWS. OJSC Rosinter Restaurants Holding (Rosinter), the leading casual dining restaurant chain in Russia and CIS (Moscow Exchange MICEX-RTS ticker: ROST), announces its trade update for 3Q and 9M 2013.

The gross revenue of comparable stores[1] in 9M 2013 decreased y-o-y by (0.2)%. In 3Q 2013 gross revenue of comparable stores decreased by (2.5)% in comparison with 3Q 2012; 3.4% increase in average spend and (5.8)% decrease in traffic. The decrease of gross revenue of comparable stores is partially (0.5%) due to short (less than 2 weeks) closures of several stores for infrastructure repair needs.

9M 2013 consolidated net operating revenue[2] decreased y-o-y by (2.6)% to RUB 7,331 mln. Net operating revenue in 3Q 2013 decreased by (8.4)% in comparison with 3Q 2012. Of this decrease, (5.3)% is related to implementation of the strategic plan of improving our portfolio, including exiting unprofitable and non-core restaurants.

Our network includes 383 outlets as at September 30, 2013: 355 casual dining restaurants and 28 Costa Coffee shops.

Kevin Todd, President and Chief Executive Officer, commented:
"In 3Q 2013 we have experienced a trading period below our expectation. It is clear that we are not immune from the economic slowdown in Russia. Also, our total revenue dynamic has been affected by our strategically planned portfolio optimization and temporary closings of several of our stores for revitalization and remodel. In 4Q 2013 there are activities in place to support revenue growth. Among them, new stores openings in Transportation Hubs that are currently under construction and brand marketing activities which will bring increased value to our guests."