RNS Number:8699R
Paramount PLC
10 November 2003


Paramount plc

Trading Update by Chairman at AGM

10/11/03



The Annual General Meeting of Paramount plc took place today. All the
resolutions proposed at the meeting were passed and the Chairman of Paramount
plc made the following trading update:


"We continue to be encouraged about the prospects for the Groupe Chez Gerard
business that we acquired in April 2003. Our actions since we bought the
business have been concentrated on returning the Group to profitability and
enhancing the cashflow of the underlying businesses. We are in the process of
completing the first phase of actions needed to stabilise the business and
believe once this stage is complete we will have a core business that is
positioned for future growth.


Since the year end the Group is profitable and we have completed the sale of 5
loss-making restaurants generating cash proceeds of #855k and one further
restaurant is closed and is being marketed for sale.


We have thoroughly reviewed the brands in the portfolio and believe that all of
them have the potential to be strengthened and developed further. We currently
have 20 restaurants operating under the Chez Gerard, Livebait, Cafe Fish and
Bertorelli brands, and all restaurants have been cash positive since the year
end.


We continue to strengthen the management team at Groupe Chez Gerard both by
external recruitment and by promotion from within the organisation. Richard
Darwin has joined as CFO of Groupe Chez Gerard from Diageo; Tina English has
been promoted to Director of Sales and Marketing. Both join the Board of Groupe
Chez Gerard Restaurants Ltd.


Looking ahead, the Group will continue to work to generate increased
profitability to support ongoing shareholder value."



Enquiries:


Nick Basing, Chief Executive - Paramount plc - 020 7257 8403

Richard Darwin, Chief Financial Officer - Groupe Chez Gerard plc - 020 7257 8403

Tim Robertson, CardewChancery - 020 7930 0777



END








                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGMBDBDBBGBGGXG