Frankie & Benny's chain eyes more outlets
retail: The chain behind Frankie & Benny's and Chiquito said it will open up to 30 new sites this year as it posted a 7 per cent rise in profits.
The Restaurant Group, which has more than 400 outlets, has already opened 13 new outlets this year and expects this figure will rise to between 25 and 30 over the year, including as many as 14 Frankie & Benny's sites.
With most of its restaurants in out-of-town retail parks and many near cinemas, the group is insulated from the troubles of the high street while it has also benefited from the enduring popularity of movies.
Like-for-like sales increased by 3.25 per cent in the first half of the year – a trend it has maintained in recent weeks – while pre-tax profits increased by 7 per cent to £26.1 million in the six month period.
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Chairman Alan Jackson said the group's portfolio of brands had "very wide appeal".
He said: "The results for the first half are strong, particularly against the backdrop for consumer-facing businesses."
The group said Frankie & Benny's, which operates from 209 units, traded strongly in the first half of the year.