Sales drop 3% at The Restaurant Group

8th May 2009, 12:44pm

The Restaurant Group's like-for-like sales slumped 3% in the first 18 weeks of this year, the chairman for the group has announced.

Alan Jackson said the pattern of trade has been reasonably stable for the first four months of the year, however he anticipated its concessions division experiencing a significant decline in passenger numbers at many airport locations.

But overall, the group's margins and profits are running at a level in line with management's expectations.

Jackson explained: "The UK economic backdrop remains difficult and consumer confidence is not being helped by rising unemployment levels.  However, for the vast majority of people who remain in work, lower interest rates and lower fuel and other costs are a positive.  Overall we believe that conditions for consumer-facing businesses will continue to be challenging for some time."

The company has opened six new units so far this year and are expected to launch between 15-20 new units during 2009.

The group operates ventures such as Frankie & Benny's, Chiquito, Bluebeckers and Brunning & Price.

Related Articles:

• 02 Sep 2010 - The Restaurant Group profits soar as Brits continue to eat out
• 06 Jan 2009 - Reasonable performance at Restaurant Group
• 22 Oct 2008 - Restaurant Group non-exec buys 200,000 shares

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