Bank Restaurant's interims tell an all-to-familiar story. Despite cutting costs by £12,000 per week, the firm saw profits slide to just £4,000 (£92,000). It noted a 'modest decline' in revenues - to £4.9m - in the six months to April. Chairman Tony Allan rather vaguely cites 'well-documented continued difficulties in the sector' as the reason for the disappointing results. He also warns that these are likely to hinder full-year figures too. Nevertheless, Allan maintains that 'over the longer term the strength of the Bank brand, together with the lower cost base, will deliver improved performance'. Despite its problems, Bank continues to generate enough revenue to suggest that if it gets its act together it will be worth considerably more than its current valuation. But that is a big 'if'. The shares are for gamblers only.

Bank Restaurant Group	AIM	0pm	p	p
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