Rosinter Q1 Down on Higher Food Costs and New Outlets

The country’s biggest and only listed restaurant chain Rosinter plunged to a net loss in the first quarter due to the cost of opening new outlets and lower revenue forecasts for some of its existing ones. Rosinter, which owns Planet Sushi and operates the Russian franchise of T.G.I. Friday’s, posted a net loss of 146.4 million rubles ($5.23 million) after a 22.3 million ruble net profit in the first quarter of 2010. […]