Restaurant Group PLC AGM Statement (3360Z)
May 17 2019 - 2:00AM
UK Regulatory
TIDMRTN
RNS Number : 3360Z
Restaurant Group PLC
17 May 2019
The Restaurant Group plc
Trading statement
At the AGM of The Restaurant Group plc (the Group), to be held
later today, Debbie Hewitt, Chairman, will provide the following
trading update:
Current trading
Current trading is in line with our expectations with Group
like-for-like sales for the 19 weeks ended 12 May 2019 up 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 we saw strong performances from Wagamama which has
continued to significantly outperform in its core UK market, and
from our Pubs business, which consistently traded ahead of the pub
restaurant sector. Our Concessions business traded well and we
remain focused on optimising our Leisure business against the
backdrop of a declining market.
Outlook
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.
Enquiries:
The Restaurant Group plc
Andy McCue, Chief Executive
Officer
Kirk Davis, Chief Financial
Officer 0203 117 5001
MHP Communications (Financial
PR adviser)
Oliver Hughes / Simon Hockridge 0203 128 8742
About The Restaurant Group plc
1. The Restaurant Group plc 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 5
restaurants in the US and over 50 franchise restaurants operating
across a number of territories.
2. This statement is based on information sourced from management accounts.
3. Statements made in this announcement that look forward in
time or that express management's beliefs, expectations or
estimates regarding future occurrences are "forward-looking
statements" within the meaning of the United States federal
securities laws. These forward-looking statements reflect the
Group's current expectations concerning future events and actual
results may differ materially from current expectations or
historical results.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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