Tweet
Frankie and Benny’s owner the Restaurant Group (TRG) has maintained its early year momentum despite widespread predictions of falling consumer spending on eating out.
Turnover at the group, which has 336 restaurants and operates brands such as Chiquito, Garfunkel’s and Blubeckers, increased 18% to £203m in the first six months of the year and pre-tax profit was 20% higher at £21.1m.
Andrew Page, TRG chief executive, said: “The TRG team has delivered another set of very satisfactory results. Our new openings are performing strongly and we expect to have added more than thirty restaurants by the end of 2008.”
TRG opened 17 new sites in the 26 week period ending 29 June 2008. It said second half trading had started well with like-for-like sales up 3% on last year.
A consumer survey by PricewaterhouseCoopers earlier this week found more than a quarter of punters planned to reduce their spending on eating out and takeaways as the UK economy falters.
Consumers to cut back on eating out during credit crunch >>Frankie & Benny’s owner defies consumer spending slowdown predictions >>The Restaurant Group serves 30 million meals in 2007 >>The Restaurant Group serves 30 million meals in 2007 >>The Restaurant Group warns of drop in consumer spending >>By Chris Druce
E-mail your comments to Chris Druce here.
In this week’s issue, guest edited by Raymond Blanc, we explore the important roles of housekeepers.
Watch here
15 May 2012
11 Apr 2012
22 May 2012
25 May 2012
23 Mar 2009
Best of Chef – now available online View it now
23 Feb 2009
05 Jan 2009
18 May 2012
24 May 2012
21 May 2012