TRG boosted by strong balance sheet and opening pipeline

Chiquito

The Restaurant Group today gave the market reason to cheer after announcing its sales have grown in the second half of 2015.

The group, which owns a number of chains including Frankie & Benny’s, Garfunkel’s and Chiquito, reported that total revenues for the 45 weeks ending 8 November were 8% up on the comparable period in 2014, with like-for-like sales increasing by 2%.

The company expects to open a total of 43 to 45 new sites in 2015 (it has already opened 25 this year) and aims to open at least as many next year.

“We are confident that the business will continue to make good progress during the remainder of the year and expect to report full-year results in line with market expectations,” the company said in a statement.

“The group’s balance sheet position remains strong and cash continues to be generated at levels which allow the group to maintain investment in our existing portfolio and open new restaurants.”
The Restaurant Group plc operates over 480 restaurants and pub restaurants throughout the UK. Its principal trading brands are Frankie & Benny’s, Chiquito, Coast to Coast, Brunning & Price and a Concessions division which trades principally in major UK airports.
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