The Restaurant Group posts 2.8% sales growth; just down on last year
The Restaurant Group has posted like-for-like sales of 2.8% for the full year ending 28 December 2014, slightly less than its 3.5% sales growth for 2013.
The company was positive about the results and cited good Christmas trading and a rise in the number of site openings as having boosted growth, although this year's figure shows less growth than last year.
Like-for-like growth was at 5% over the two-week holiday period to 4 January, while turnover was up 9.6% (compared with up 9% in 2013) the company said.
The results come amid continuing fast expansion for the group, which opened 40 restaurants in 2014 compared with 35 in 2013, and plans to open 42 to 50 new sites during 2015.
Full results are expected to be published at the end of February.
Despite the slightly slower growth for 2014, the group said it expected to see continuing positive increases in sales, in part boosted by new openings but also an improved outlook for UK cinemas, which had been weak for many years. Improved film schedules for 2015 and 2016 would boost cinemagoing, amid rising real incomes, said the group, which would in turn bolster restaurant growth.
The statement concluded: "These factors are all clearly positive for the future prospects of the group and underpin our confidence in delivering further profitable progress in 2015 and subsequent years."
The Restaurant Group operates over 400 sites across brands including Frankie & Benny's and Garfunkel's.
