The Restaurant Group, owner of Frankie & Benny’s, Garfunkel’s and Chiquito, said in a statement today that ‘like-for-like sales over the Christmas period had increased by 2.8%’ and that their full year results will meet the market’s forecasts for material growth in both earnings and cash flow.
2014 saw the opening of a total of 40 new restaurants for Restaurant Group, compared to 35 in 2014. The group says it will continue with a similar pace of growth in 2015 with the establishment of 42 to 50 new restaurants this year.
The company, which positions many of its outlets close to cinema multiplexes, said the outlook for 2015 and beyond was “very positive” thanks to growth in disposable consumer incomes, an increasing number of new site openings, and a considerably improved outlook for UK cinema growth as a result of much stronger film release schedules.
In a statement issued today the company said, “Since 2009 we have increased the number of openings each year and we expect to do so again in 2015. We have excellent visibility on the composition of this opening programme and anticipate opening between 42 and 50 new restaurants during 2015.”
Reporter: Michael O’Shea