Restaurants, cafes and bars in Russia see turnover increase 3.4% year-over-year in Q1 to 267.8B rubles, according to government statistics

MOSCOW , April 29, 2014 () – Restaurants, cafes and bars in Russia saw turnover increased 3.4% year-on-year in the first quarter of 2014 to 267.8 billion rubles, the Russian Statistics Service said Tuesday.

The restaurant services industry in Russia increased turnover 3% in March to 93.5 billion rubles. The rate of growth was lower than in February and January, when turnover rose 3.9% and 3.5%, respectively.

The industry saw faster growth last year with restaurants and bars boosting turnover 4.5% in March 2013 and 4.3% in the first quarter.

The sole Russian company in the industry - OJSC Rosinter Restaurants Holding (MOEX: ROST) has not yet published revenue figures for the first quarter. Rosinter saw revenue drop 2.2% in 2013 to 9.85 billion rubles. The restaurant services market in Russia grew 4% in 2013 to 1.13 trillion rubles, the statistics service said.

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