Restaurant Group sees bright start to 2012
17 May, 2012
The Restaurant Group, operator of Frankie & Benny's, Chiquito's and Garfunkels, has reported strong trading for the first 19 weeks of the year with total sales 8% ahead of the previous year and like-for-like sales 4% ahead. It also announcedit would be rolling-out of its new Coast to Coast concept.
Chairman Alan Jackson said: "Since the end of February we have seen a significant uplift in sales with good growth in March, April and May to date. Margins are in line with expectations."
During the first 19 weeks the group opened one new Frankie & Benny's restaurant, two new Garfunkel’s and one new pub restaurant. "These sites are trading well and are set to deliver strong returns," said Jackson.
In November 2011 TRG opened its first Coast to Coast, an American restaurant and bar operation, alongside an existing Frankie & Benny’s at the Brighton Marina. "The performance of our first restaurant has been superb and as a result, we have now committed to two new Coast to Coast sites which will open later this year and are also exploring further site opportunities," added Jackson.
In total TRG expects to open between 25 and 30 new restaurants this year with a strong pipeline developing for 2013 and beyond. It anticipates that a half will be Frankie & Bennys.
The Restaurant Group plc operates over 400 restaurants and pub restaurants predominantly in leisure locations and airports, including over 50 sites in its concessions division.
Full details can be downloaded www.trgplc.com/
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