The reopening of NoHo Partners' restaurants has been promising – demand is growing as restrictions are lifted

NoHo Partners PlcSTOCK EXCHANGE RELEASE 6 July 2020 at 14:45 The reopening of NoHo Partners' restaurants has been promising – demand is growing as restrictions are lifted NoHo Partners' turnover in June 2020 exceeded EUR 13.5 million, which is approximately 55 per cent of the turnover in the corresponding period last year.At the end of June, approximately 30 per cent of the Group's restaurants were closed. Staff restaurants, event restaurants and certain nightclubs will remain closed...

Tampere, 06/07/2020 (informazione.news - comunicati stampa - turismo)

NoHo Partners Plc

STOCK EXCHANGE RELEASE 6 July 2020 at 14:45

NoHo Partners' turnover in June 2020 exceeded EUR 13.5 million, which is approximately 55 per cent of the turnover in the corresponding period last year.

At the end of June, approximately 30 per cent of the Group's restaurants were closed. Staff restaurants, event restaurants and certain nightclubs will remain closed until August. Approximately 75 per cent of the Group's entire personnel have returned to work either full-time or part-time.

NoHo Partners CEO :

“Our business got off to a promising start in June. For restaurants and outdoor terraces, customer demand exceeded expectations and sales were on a par with the previous year. Total sales were approximately 45 per cent lower than in the corresponding period last year, weighed down by the restrictions that were still in place in early June and particularly affected the Group's international business and entertainment venues. The lifting of a number of restrictions effective from 22 June 2020 had a significant impact on the Group's turnover, as alcohol sales were extended to 1 a.m.

The operating cash flow of our business was positive in June and we were able to focus on the controlled resumption of our business and employing personnel. The outlook for the rest of the year has improved substantially since the Q1 interim report. Nevertheless, the market still involves significant uncertainty, which is why we will specify the outlook for the rest of the year when the picture becomes clearer.”

NoHo Partners aims to provide up-to-date information on the situation and the impact of the coronavirus pandemic on the Group's business. In connection with the release of the January–March 2020 interim report on 9 June 2020, the Group announced that it will provide monthly reports on the development of its business during the exceptional circumstances caused by the coronavirus pandemic. The Group's business is currently still being managed in a restricted operating environment.

The development of turnover in July 2020 will be reported by the Group in the first week of August.

Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 011 1989
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655
                                                                                                            

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