Big freeze hits Restaurant Group
The Restaurant Group (TRG), which owns the Brunning & Price pub estate, has reported a 1% drop in like-for-like sales as the big freeze took its toll on December trade.
TRG, whose brands also include Frankie & Benny's, Chiquito, and Garfunkel's, said turnover the 53 weeks to 2 January was up 7% compared to a 52 week period last year. Like-for-like sales were 1% below last year, TRG said in a pre-close statement. Final results are expected to be "just ahead" of market forecasts.
"Turnover for the final part of November and the first four weeks of December was impacted by the unusually harsh weather conditions experienced throughout the UK, although since then trading has been very strong," it said.
Trading at the 24 new sites opened in 2010 has been "above expectations" and TRG is planning to open a further 22 to 27 sites in 2011.
"We had to cope with some very challenging conditions last year," said Andrew Page, chief executive of TRG said.
"Our people responded magnificently and this, combined with the strength of our brands, enabled the Group to produce another year of profitable progress. We will be looking to build further on this in 2011."
