15th Nov 2013 08:20
LONDON (Alliance News) - Frankie's & Benny's and Chiquito owner The Restaurant Group PLC Friday said that trading in the first nine months of the year has been in line with expectations, as total sales rise 9.1%.
The restaurant and pub restaurant operator said it is on track to meet expectations for the full year, after it reported that like-for-like sales in the 45 weeks to November 10, were up 3.5% on last year.
The Restaurant Group said that it expects to open more restaurants in 2014 than it did in 2013. It said that it has opened 21 new sites in the year to date, all of which are performing well and set to deliver strong returns. The group said that it expected to open between 33 and 35 new restaurants in total in 2013.
The group said that its balance sheet remains strong, with continued strong cash generation, enabling it to maintain investment in its existing portfolio and open new restaurants.
Shares opened Friday up 0.2% at 557.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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