TRG continues with expansion plans as it delivers positive half year results

By Emma Eversham

- Last updated on GMT

Related tags: Economics

Trade has been positive so far this year for the Franke & Benny's owner
Trade has been positive so far this year for the Franke & Benny's owner
The Restaurant Group (TRG) is ploughing ahead with plans to expand the business as it posts positive results for the first half of 2011.

The Frankie & Benny's and Chiquito operator has already opened 11 sites this year and is planning to open up to 16 more by the end of 2011.

For the first 26 weeks of the year, to July, revenue rose 7.5 per cent to £234m, a rise of 3 per cent compared to the same period last year. Pre-tax profits were also up 8 per cent to £24.4m.

“These are good results from The Restaurant Group - turnover, profits, earnings, cashflow and dividend per share are all well ahead of last year," said TRG chief executive Andrew Page.

"Against a tough economic backdrop, ongoing cost pressures and with household incomes being squeezed hard, this performance demonstrates the ongoing resilience of TRG’s businesses and the strength of our team and our brands."

Second half

Page said despite recent negative news stories of the economy and the August riots, the company had made a good start to the second half of the year. For the 34 weeks to the 28 August, like-for-like sales are 2.7 per cent ahead of the previous year.

"Our team have been fantastic and I am confident that everyone will be working towards making sure that 2011 is another successful year,” added Page.

Related topics: Business, Restaurants

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