The Restaurant Group reports 7% increase in group operating profit
Revenues were also up 10% to £635m for the 52 weeks to 28 December 2014, with a 8.5% increase in EBITDA to £117m, enabling a 10% increase in the proposed full year dividend to 15.4p per share.
Forty new outlets opened during 2014, with a further 43 to 50 set to launch this year. A strong start to 2015 has been confirmed, with total sales up 9.5% and like-for-like sales up 2.5% for the eight weeks to 22 February.
Danny Breithaupt took over as chief executive of the group during the year, following the retirement of Andrew Page. Alan Jackson, chairman of the company, said: "I am delighted to report that the transition has gone extremely smoothly and Danny has already clearly demonstrated that he is the right person to lead The Restaurant Group through the next stage of its evolution."
He added: "We have an outstanding business with market leading brands across a range of segments in the eating out market and an experienced management team with real strength and depth. With these core strengths and an improving UK economy, I am confident that TRG is well placed to continue making further profitable progress in 2015 and over the coming years."
The Restaurant Group operates more than 470 restaurants and pub restaurants in the UK. Alongside its main brands of Frankie & Benny's, Chiquito, Coast to Coast and Garfunkel's, it also runs pub restaurants and a concessions business which trades principally at UK airports.
