MOSCOW, Feb 18 (Reuters) - Restaurant group Rosinter , which operates the Russian franchise of T.G.I. Friday‘s, said on Monday its revenue increased 2.6 percent last year as it pressed ahead with a restructuring designed to turn around the business.
Consolidated net operating revenue totalled 10.1 billion roubles ($336 million), the company said in a statement. Same-store sales were down 3.3 percent.
Rosinter, struggling to win customers to its casual dining formats amid growing competition from western fast-food brands, said last year it would slow expansion to focus on improving profitability and reinforcing core brands.
Same store sales declined by a slightly slower rate of 2.7 percent in the fourth quarter, when Rosinter it launched new menus to stimulate sales.
It also said that it had completed the appointment of a new top management team, and was progressing with a brand revitalisation project and restructuring of corporate assets.
The company’s main brands are Il Patio and Planet Sushi. It also develops British group Whitbread’s Costa Coffee and plans to open McDonald’s restaurants in airports and railway stations as a franchisee. (Writing by Maria Kiselyova and Jason Bush; Editing by Douglas Busvine)