The Restaurant Group plans to open 28-35 new venues in 2013
Announcing headline trading performance figures for the 52 weeks to 30 December 2012, TRG revealed it opened 28 new restaurants in 2012 - a year where turnover and like-for-like sales for the group as a whole continued to grow.
The company will announce detailed full year results in March.
"The Restaurant Group delivered a strong performance in 2012, notwithstanding some tricky conditions for consumer-facing businesses," said chief executive Andrew Page.
"Sales increased by 9 per cent, with like-for-like sales 4.5 per cent ahead of the prior year," continued Page. "Profits were well ahead of 2011 and cash generation was strong."
The London-based company, which operates the popular Frankie & Benny's and Chiquito brands, revealed operating margins for the year were expected to be at a similar level as they were in 2011.
Coast to Coast
Speaking to BigHospitality last August, Page revealed he had ambitious plans for the newest concept launched by the c400-strong group. There are now five sites operating under the adult-focused brand, sites under which tend to be found in locations where other TRG businesses already flourish.
The former finance director explained there were 'dozens' of locations where he thought the burgeoning concept could thrive. He also said it was showing good early potential and revealed there were plans to open at least another five Coast to Coast restaurants in 2013.
"During 2012 we opened 28 new restaurants, creating over 700 new jobs and this year we expect to open between 28 and 35 new restaurants. Last year the TRG team worked relentlessly to deliver a great performance and the focus is now directed towards delivering further good progress in 2013," added Page today.
Of the new sites which launched last year, TRG revealed trading at the venues had been 'excellent' and explained they were set to deliver 'strong returns'.
TRG also revealed the departure from the business of Trish Corzine, executive director of the company's concessions business, who will retire as a director of the group this May 2013. Corzine has spent nearly 20 years working for TRG.
