Sfinks maintains development plans for '16

Sfinks, the owner of the Sphinx, Chłopskie Jadło and Wook restaurant chains, has confirmed plans to open at least 16 new locations this year, deputy CEO of the company Jacek Kuś informed. From December 2015 to May 2016 the company opened seven, but closed ten locations. "We close small restaurants that don't fit into our concept," Kuś said. "At the end of May we had 114 restaurants and 18,800 chairs," he added. Among new acquisitions is the famous Bolek pub in Warsaw. In the first six months of the year sales revenue was PLN 94 million, with over PLN 3.9 million net operating profit. The representatives of Sfinks upheld next year's financial plan ( PLN 15 million net profit and nearly 220 million in revenue). Its main threats are an unfavorable exchange course of the EUR/PLN currencies and the rise in logistics costs.