TRG opens record number of pubs & concessions in Q4

The Restaurant Group plc (TRG) has reported on trading for the 52 weeks ended 30 December 2018, showing like-for-like sales were down 2%, with total sales (including one week of trade from Wagamama) increasing by 1%.

The group has delivered like-for-like sales growth since the World Cup, with its pubs business continuing to consistently trade ahead of the pub restaurant sector and its concessions business trading strongly.

The firm's leisure business exhibited improved like-for-like sales momentum through 2018, but was impacted by weaker cinema admissions in December.

TRG opened a record 21 new pubs (inclusive of acquisitions) and a record 21 new concessions units during the year.

As previously announced, the acquisition of Wagamama formally completed on 24 December 2018. Wagamama has continued to trade well over the festive period.

CEO Andy McCue commented, “2018 has been a pivotal year for the Group in which we have opened a record number of new sites in both our Pubs and Concessions businesses as well as acquiring an extremely high quality business in Wagamama.

'The enlarged business is now orientated strongly towards growth with a number of exciting opportunities ahead. We are focused on executing on our multi-pronged growth strategy and plans for the site conversions and cost synergies are progressing well.”