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The Restaurant Group serve up 'impressive' performance

6th March 2008, 10:46am

The Restaurant Group (TRG) who's portfolio consists of Frankie and Benny's, Garfunkel's and Chiquito's has announced strong profits in a market burdened with consumer slowdown.

Chief Executive Andrew Page explained why the financial results are being viewed as 'excellent': "The team delivered another impressive performance in 2007, with earnings up 27% and 36 restaurants successfully opened and trading well. Whilst that is very pleasing, our attention is now firmly fixed on the current year which has started well with like-for-like sales growth currently 4% ahead."

TRG is aware how difficult the market has been for other hospitality businesses and Andrew highlighted that the company is not getting complacent: "With a tighter consumer market still anticipated during 2008, we will continue to focus on giving our customers great service and value, opening at least thirty new restaurants and building further on our record of success."

More than 30 million meals were served by TRG in 2007 and 4.5 million of those were children's dishes. The group also created around 1,000 new full and part time jobs.

The performance from Frankie and Benny's, Garfunkel's and Chiquito is described by TRG as 'superb' after like-for-like sales, revenue, profit and margin all grew considerably.

Shares in the company, which have fallen over the last few months, were yesterday up 1.5p in the afternoon.

Related Articles:

01 Sep 2011 - The Restaurant Group sees pre-tax profits jump 8% to just under £25 million
02 Sep 2010 - The Restaurant Group profits soar as Brits continue to eat out

Words Clare Riley 0 comments

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