Restaurant Group shows improvement
The owners of the Frankie and Benny's and Chiquito restaurant chains enjoyed a 13% rise in pre-tax profits to £72.7 million last year during which is sold 43m meals.
The Restaurant Group, which operates over 440 restaurants and pub restaurants, also saw like-for-like sales grow 3.5% with total sales up 9% to £580m.
The group, which also owns the Brunning and Price chain of pubs, created more than 1,000 jobs and opened 35 new sites in 2013 and plans to open 36 to 43 this year
In the first eight weeks of this year sales are up 10%.
Chief executive Andrew Page, who will retire at the end of August, said: "The Restaurant Group delivered another strong performance in 2013, building further on its consistent record of increasing earnings each year."
He added that with the UK economy showing improvement, employment levels rising and inflation falling there were good prospects for an improvement in household finances.
"This bodes well for our sector and all of our team will be working determinedly to deliver another year of profitable progress. The Restaurant Group is in great shape and I am confident that it will continue to prosper," he said.
The group, which employs more than 12,000 staff, has Frankie and Benny's in Dudley, Kidderminster, Lichfield, Merry Hill, Stafford, Telford and Walsall, and Chiquito's at Wednesfield and Dudley.
