TRG confident of good progress in 2011
The Restaurant Group (TRG) is set to continue its expansion programme and said it is confident of another year of good progress in 2011.
The owner of the Garfunkels, Chiquito and Frankie & Benny's chains, which operates more than 385 restaurants and pubs across the UK, reported an 8% increase in pre-tax profit for the 26 weeks ending 3 July.
Like-for-like sales were up 3% compared with last year, while total turnover for the period increased 7.5% to £234m.
TRG chief executive Andrew Page said: "Against a tough economic backdrop, ongoing cost pressures and with household incomes being squeezed hard, this performance demonstrates the ongoing resilience of TRG's businesses and the strength of our team and our brands."
TRG, which operates 43 pub restaurants as well as more than 50 sites in its concessions business, which trades principally at major UK airports, said it has opened 11 new restaurants in 2011 and it is looking to add a further 11 to 16 new sites before the end of the year.
Looking ahead, the group said it was confident as it has seen continued strong trading with year to date like-for-like sales for the 34 weeks to 28 August at 2.75%
"Despite the recent raft of downbeat newsflow, and the disturbances in early August, we've made a good start to the second half," TRG added.
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By Kerstin Kühn
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