The Restaurant Group reports 9% increase in turnover for 2012
The Restaurant Group (TRG) said its turn turnover for 2012 was up 9% year on year despite "tricky" conditions for consumer-facing businesses.
The company behind restaurant brands Garfunkel's, Chiquito and Frankie and Benny's, as well as pub brand Brunning and Price, said that profits for the 52 weeks to 30 December 2012 were also expected to be ahead of market forecasts.
Andrew Page, chief executive of TRG, said: "The Restaurant Group delivered a strong performance in 2012, notwithstanding some tricky conditions for consumer-facing businesses.
"Sales increased by 9%, with like-for-like sales 4.5% ahead of the prior year. Profits were well ahead of 2011 and cash generation was strong."
TRG opened 28 new restaurants during 2012, creating more than 700 new jobs and said it expected to open between 28 and 35 new restaurants in 2013.
It was also announced that Trish Corzine, executive director of the concessions business, would retire as a director of TRG in May after almost 20 years with the company.
The group's full year results will be announced by early March.
The Restaurant Group reports promising revenues for 2011 >>The Restaurant Group targets 25-30 new openings in 2012 >>
Like-for-like sales rise at the Restaurant Group despite weak consumer confidence >>
By Janie Manzoori-Stamford
E-mail your comments to Janie Manzoori-Stamford here.
Catererandhotelkeeper.com jobs
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs
