BusinessPeople In BusinessOn the money with Gavin Hinks

On the money with Gavin Hinks

It’s nice to find a bullish FD at times like these - ­ they’re about as common as a vegetarian in an Angus Steak House

gavin hinks accountancy age

One man who clearly feels optimistic is Frank Bandura, the finance director
of Carluccio’s, the upmarket Italian cafe chain, who has developed a taste for
shares in his own company.

At the end of last week the Regulatory News Service revealed that Bandura has
invested £25,000 in an extra 48,000 Carluccio’s shares. Given that his holding
now stands at 176,600 shares, at prices earlier this week his shares are now
worth a little over £1m.

That’s not bad for what started out as a rather small concern, though backed
by rather a big brand. So Frank must feel something’s going well despite the
economic gloom.

The only other restaurant / hot food supplier I’ve heard sound quite so
relaxed is Domino Pizza, whose managers quickly made it clear everyone would
find their product to their taste now that the economy has gone sour. Recent
results bear that out.

You might have predicted more upmarket restaurants would suffer, but last
year Carluccio’s cooked up a rise in revenue any good pastry chef would be proud
of ­ up from £53.3m to £64.1m.

Bandura has been with the business almost since it started, with a CV that
includes Pizza Hut and PepsiCo. He clearly knew a good thing when he saw it.
Even Carluccio’s AIM flotation was a success, raising more than £90m instead of
the expected £26.5m.

Accountancy Age spotted Bandura back in 2006 and that he clearly saw
himself as something more than the man that counts the pies. ‘The FD role is one
that is much more of a general business adviser, expected to influence,
participate and bring their perspective to bear on where the business is going,’
he said.

Good. Wonder if he makes a good investment adviser too?

Gavin Hinks is editor of Accountancy Age

Related Articles

Shortlist announced for British Accountancy Awards 2017

Accounting Firms Shortlist announced for British Accountancy Awards 2017

4m Emma Smith, Managing Editor
Pimlico Plumbers to take employment case appeal to Supreme Court

Legal Pimlico Plumbers to take employment case appeal to Supreme Court

4m Alia Shoaib, Reporter
HMRC appoints new director generals

HMRC HMRC appoints new director generals

5m Alia Shoaib, Reporter
Submit your entry for the British Accountancy Awards!

People Business Submit your entry for the British Accountancy Awards!

6m Emma Smith, Managing Editor
BDO appoints two non-executive directors as advisers to leadership team

Accounting Firms BDO appoints two non-executive directors as advisers to leadership team

6m Emma Smith, Managing Editor
Ex-HMRC chief to join ICAS council

HMRC Ex-HMRC chief to join ICAS council

8m Emma Smith, Managing Editor
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Settlement reached between Margaret May and CIMA

Accounting Standards Settlement reached between Margaret May and CIMA

11m Stephanie Wix, Writer