The Restaurant Group (TRG) has provided a trading update for the 19 weeks ended 12 May 2019 showing current trading is in line with expectations with group like-for-like sales up by 2.8%.
Total sales were up 57% in the period reflecting the benefit from the Wagamama acquisition, and the record number of new Pubs and Concessions sites opened during 2018.
In the period, the firm saw strong performances from Wagamama, which has continued to significantly outperform in its core UK market, and from its Pubs business, which consistently traded ahead of the pub restaurant sector.
The Concessions business traded well and TRG remains focused on optimising its Leisure business against the backdrop of a declining market.
The company stated, 'We are comfortable with the performance in the first 19 weeks of the current financial year and remain focused on realising the synergies from the Wagamama acquisition, executing on our multi-pronged growth strategy and optimising our Leisure business.'
TRG operates over 650 restaurants and pub restaurants throughout the UK. Its principal trading brands are Frankie & Benny's, Wagamama, Chiquito and Brunning & Price.
It also operates a multi-brand Concessions business which trades principally in UK airports.
In addition, the Wagamama business has five restaurants in the US and over 50 franchise restaurants operating across a number of territories.
