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Restaurant Group reports growth in profits

04 | 03 | 13

The Restaurant Group could open up to 35 new outlets in 2013 after reporting a seven per cent increase in full-year profits.

Having launched 28 new restaurants and created 700 jobs last year, the operator of popular dining chains such as Frankie & Benny's and Chiquito said its pre-tax profits for the period totalled £64.6 million.

The London-based company, which operates in the increasingly popular 'casual dining' sector, serves over 35 million meals a year to customers in more than 400 restaurants and pubs.

New York-style Italian eatery Frankie & Benny's is the company's largest chain, with over 200 branches in the UK. Other brands run by the Restaurant Group include Garfunkel's and Coast to Coast.

New kitchen equipment could soon by required by the firm, as it has announced plans to open between 28 and 35 more outlets as it continues to expand this year. The group's first new Frankie & Benny's of 2013 recently opened for business at the Cleveland Retail Park in Middlesbrough.

"The Restaurant Group produced another strong performance in 2012 with all parts of our business in growth," said chief executive Andrew Page.

He added that the latest additions to the company's brands are "trading well and are set to deliver excellent returns".

"We are fortunate to have an outstanding team at the Restaurant Group and, yet again, they worked diligently to deliver these superb results," Mr Page commented.

The group also reported a strong start to the new year, with like-for-like sales up by 6.5 per cent.

According to a definition from business data company Hoovers, restaurants in the casual dining sector serve food to customers in 'casual atmospheres' to seated customers who pay after eating. Profitability in the sector is driven by high-margin items on menus and effective marketing.ADNFCR-16001031-ID-801551658-ADNFCR

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