Profitable 2014 at The Restaurant Group reverses five-year decline

The Frankie & Benny’s and Chiquito brand owner, which today posted an update on its FY2014 trading, believes new site openings, greater disposable consumer income and a rise in cinema-goer numbers will help swell revenue further in the year ahead.

In a statement, TRG described its outlook as 'very positive' after reporting a 2.8 per cent increase in like-for like sales for the year ending 28 December with a 5 per cent rise over the two week festive period. Total turnover was up 9.6 per cent on the previous year.

Last year the company opened 40 restaurants, compared to 35 in 2013; it now intends to open between 42 and 50 new venues over the next 12 months. 

“Following 2014, which has been the weakest year for cinema admissions for many years, 2015 and 2016 are expected to show significant growth as a result of much stronger film release schedules," TRG said. 

"After five years of decline, we are now starting to see increasing real incomes, a trend which is expected to become more strongly established during the course of 2015. 

“These factors are all clearly positive for the future prospects of the Group and underpin our confidence in delivering further profitable progress in 2015 and subsequent years.”

The group’s full year results will be announced at the end of February.