Restaurant Group sales jump 57% following Wagamama acquisition
Source - SMW
Restaurant Group said its sales had jumped 57% in the year to date, owing to its recent acquisition of Wagamama and new site openings.
Like-for-like sales for the 19 weeks ended 12 May had risen 2.8%.
The company said it saw strong performances from Wagamama, which continued to significantly outperform in its core UK market.
The pubs business, meanwhile, had consistently traded ahead of the pub restaurant sector, it added.
The Concessions business traded 'well' and Restaurant Group said it remained focused on optimising its 'eisure business against the backdrop of a declining market.
'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,' chairman Debbie Hewitt said in speech notes for the company's AGM.