TRG trading in line

Pub and restaurant operator The Restaurant Group (TRG) says it is trading in line with expectations.

TRG, which has a 40-strong pub restaurant division, said like-for-like sales are 2.5% ahead of last year for the 45 weeks to 9 November and turnover is 16% ahead.

It has opened 29 new restauranst so far this year but warned that openings for 2009 and 2010 may be delayed or postponed due to the current economic squeeze.

"In the current real estate environment some of the new developments we are targeting for restaurant openings in 2009 and 2010 may be delayed or postponed by the project developers," it said.

"We would therefore anticipate opening between 18 and 25 new restaurants in 2009. Our approach continues to be based on quality rather than quantity, with projected return on capital being the determining factor in our decision to open any new restaurant."

TRG also warned that 2009 would be "another tough year".

It announced earlier this week that former Eldridge Pope executive Tim Bird had joined to run its pub restaurants.