The Restaurant Group has seen total sales increase by 57% following its acquisition of Wagamama, it has said in a trading update.
The group said Wagamama had continued to outperform the market in the update for the 19 weeks ending 12 May 2019, with results further boosted by a record number of pub and concession openings.
Like-for-like sales for the group, which also owns brands including Frankie & Benny’s and Chiquito, were up 2.8%.
The group said ahead of its AGM today that it was “comfortable” with its performance and focused on optimising its leisure business against the backdrop of a declining market.
The Restaurant Group purchased 133-site strong Wagamama in a deal that valued the company at £559m towards the end of 2018, in a move that it described as “transformative”.
In the group’s annual results for the year to 30 December 2018, it had seen a drop in like-for-like sales of 2%.