The Restaurant Group (TRG) has posted its trading update for the 45 weeks to 8 November 2015 together with a commentary on the outlook for the remainder of the financial year.
Since our half-year results announcement at the end of August, the group has continued to make progress. After 45 weeks trade in 2015, total sales are 8% ahead of the comparable period in 2014 and like-for-like sales are 2% ahead.
TRG has opened 25 new restaurants in 2015 to date, and these are performing well and are set to deliver strong returns in line with our usual targets. The firm expects to open a total of 43 to 45 new sites in 2015 (2014: 40). The pipeline of new sites is strong and it anticipates opening at least as many sites in 2016.
The group’s balance sheet position remains strong and cash continues to be generated at
levels which allows it to maintain investment in our existing portfolio and open new
restaurants.
TRG states it is confident that the business will continue to make good progress during the remainder of the year and expect to report full year results in line with market expectations.