Feb 26 Britain's Restaurant Group Plc
reported a 7 percent increase in full-year profit on the back of
revenue from 28 new restaurants and strong sales at its largest
dining chain, Frankie & Benny's.
The owner of popular eateries Garfunkel's and Chiquito,
which serve traditional British and Mexican food respectively,
also said trading in the new financial year started well.
Comparable sales were up 6.5 percent in the eight weeks to
Feb. 24 from a year earlier.
Full-year adjusted pretax profit rose to 64.6 million pounds
($97.76 million) from 60.3 million pounds last year.
Revenue grew 9 percent to 533 million pounds in 2012.
Excluding new restaurants, revenue grew 4.5 percent as sales
at Italian-American restaurant chain Frankie & Benny's were
boosted by thrifty Britons choosing to eat at casual dining
chains instead of high-end restaurants.
Like other British restaurants, Frankie & Benny's issued
deep discounts to attract customers, such as 5 pound breakfasts,
free all-day coffee refills and 25 percent off on Monday food
Restaurant Group, which runs more than 400 restaurants and
pubs in the UK, plans to open between 28 and 35 more outlets in
Shares in the FTSE-250 company closed at 389 pence on the
London Stock Exchange on Tuesday.