Restaurant Group sees like-for-like sales rise 2.7% as turnover tops £1b

26 February 2020 by
Restaurant Group sees like-for-like sales rise 2.7% as turnover tops £1b

The Restaurant Group has reported a 2.7% rise in group like-for-like sales, with total sales up 56.4% to £1.07b, thanks largely to the contribution of the full integration of Wagamama.

Wagamama delivered a like-for-like sales uplift of 8.5% with adjusted EBITDA for chain at £60.7m, up from £44.6m in 2018, in the results for the 52 weeks ended 29 December 2019.

The Restaurant Group as a whole, which includes brands such as Frankie & Benny's, Brunning & Price and Chiquito, reported a loss before tax of £37.3m, reflecting an exceptional pre-tax charge of £111.8m and what was described as onerous lease provisions in its leisure business.

Chief executive Andy Hornby said: "Having joined the business in August last year I am particularly pleased with the continued and significant progress made following the acquisition of Wagamama and the integration of the business into the group, which has transformed the group's growth trajectory and momentum.

"Our three growth businesses of Wagamama, concessions and pubs are all out-performing their respective markets and have clear potential for further growth. I am also acutely aware of the challenges facing our leisure business and the wider casual dining sector."

He added that the group has started the year positively, with like-for-like sales up 5.3% for the first six weeks of 2020.

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