The Restaurant Group enjoys strong start to year
Frankie & Benny's owner The Restaurant Group (TRG) has made a "buoyant" start to the year.
Despite selling its Est, Est, Est restaurant chain and Caffé Uno group in 2005, turnover in the 26 weeks 2 July increased 12.7% to £147.4m (2005: £130.8m).
Pre-tax profit at the group, which has 260 branded restaurants, jumped 16.5% to £13.5m (2005: £11.6m).
The group is pursuing a strategy of organic growth and plans to open around 40 new restaurants in 2006. This includes Deep Pan Pizza conversions.
During the first half of the year the company launched a new Little Frankie's concept, and added two Blubeckers restaurants. Its efforts to revitalise Mexican brand Chiquito saw the 38-strong chain record the highest like-for-like sales in the group and a 60% increase in profit.
Andrew Page, chief executive, said: "TRG has made an excellent start to 2006 and has begun the second half strongly. Year to date, our like-for-like sales are 4% ahead of 2005."
On 8 September the company announced the resignation of Bob Ivell from the board. Ivell is executive chairman of high-street pub operator Regent Inns.
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By Chris Druce
E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=The Restaurant Group enjoys strong start to the year) here.
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