TRG reports 8% rise in turnover
The Restaurant Group (TRG) has made "good progress despite a tough economic backdrop" as it reported an 8% rise in turnover for the 45 weeks to 7 November.
The owner of the Garfunkels, Chiquito and Frankie & Benny's chains, which operates 380 restaurants and pubs across the UK, said like-for-like sales increased marginally by 0.25% compared with last year.
TRG said it has opened 18 restaurants so far this year with all set to deliver "strong returns". The company added that it plans to open between 23 and 25 new restaurants in total in 2010 and a further 22 to 27 in 2011.
"Looking forward to 2011, we expect a continuation of current trading conditions with ongoing pressures on consumer spending from tax rises and potentially higher unemployment," TRG said.
"Our distinct market positioning with strong brands, experienced and motivated teams, our focus on delivering consistently excellent levels of service and hospitality with great value-for-money offerings will, in the absence of a significant downturn in the economy, enable the group to continue its profitable development."
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By Kerstin Kühn
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