Frankie & Benny's parent company has swung back to a first-half profit despite challenging conditions in the hospitality sector. The Restaurant Group, which also operates Wagamama and Chiquito, declared a £2.3million statutory pre-tax profit for the six months ending 2 July, compared to a £28.5million loss in the same period last year. However, all the firm's segments achieved turnover growth in the eight weeks to 27 August, with concessions sales jumping by a third. TRG noted Wagamama benefited from cooler summer weather, while popular cinema releases like Barbie and Oppenheimer buoyed the leisure business. Andy Hornby, chief executive of TRG, said: 'We are encouraged by the significant progress made in the first eight months of the year, delivering strong LFL sales growth despite the consumer backdrop.'

Source: Daily Mail September 07, 2023 03:42 UTC