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Strong performance from the Restaurant Group

30 | 08 | 13

The Restaurant Group (TRG) has reported strong financial results for the first half of 2013.

Its total revenue grew 11.5 per cent to £280 million, which was driven by a like-for-like sales rise of five per cent. This contributed to a total pre tax profit of £30 million, representing a 15 per cent increase on the first half of 2012. 

The firm was also able to reduce its net debt to £27.1 million, down from £38.4 million last year.

Andrew Page, TRG chief executive, commented: "As always, our team has worked extremely hard to deliver these results; we are fortunate to have such a professional and dedicated team at TRG whose efforts are now focused on ensuring that we maintain this strong momentum going forward."

TRG has commercial catering equipment installed at more than 400 restaurants and pub-restaurants across the country. It operates successful brands such as Frankie & Benny's, Chiquito and Garfunkel's as well as a pub-restaurant chain and concessions business, which mainly trade at UK airports. 

The company has opened seven new venues in the first half of the year so far and Mr Page said it expects to develop between 30 and 35 additional sites throughout the remainder of 2013. He claimed the firm's new venues are trading ahead of expectations at the moment and look set to deliver good returns. 

Mr Page revealed the organisation's like-for-like sales are currently running 4.25 per cent ahead of last year and August trade is outperforming 2012 at the moment. 

TRG said it plans to open between 15 and 19 new Frankie & Benny's venues over the course of the year and will launch between three and four Chiquito restaurants.

The company has had further good news in the last few days at its Bull's Head pub in Mottram, Cheshire was recently named New Pub of the Year by the Good Pub Guide. It was opened earlier this year and TRG said the venue is trading ahead of expectations.ADNFCR-16001031-ID-801631746-ADNFCR

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