The company behind up-market London restaurant The Ivy said it has been approached with a view to a possible offer for the business.

Signature Restaurants, which also owns J Sheekey and Le Caprice in the capital, said in a statement that it was "too early to assess the likelihood of any offer being made."

Shares were up 7p, or nearly 17%, to 48.75p following the announcement.

The company has suffered a slide in profits since the tourism slump which followed the 11 September terror attacks in the US.

In March, it reported profits down 32%.