Restaurant Group (LON:RTN) reports a decline in sales over the summer.
From 11 weeks until September 20th, the group that owns brands, including Wagamama and Frankie & Benny’s, said it had fallen into a six-month loss of £234.7 million.
Selfish and it was a period of decline in sales in the central London pub business, while non-capital businesses were more promising and above market averages.
“We’re looking forward to seeing you in the future,” said CEO Andy Hornby. “It was an extraordinary and challenging time for the hospitality sector, but we came together to achieve a lot. The overall priority was the safety of our colleagues and clients, and we also accelerated our portfolio reshaping, bringing in high-quality, diversified real estate.
“Since we resumed, I have been truly pleased with the strength of our trading performance and would like to express my sincere gratitude to each of my colleagues for their incredible efforts.
“The outlook for the sector is uncertain and we are noted about recent restrictions across the UK, but we are confident that the actions we take will provide a strong foundation for emergence as one of the long-term recipients,” he added.
The group led Mexican chain Chiquito to control this year, earning a fee of £132.4 million in restructuring costs.
Despite a difficult year and declining sales, Restaurant Group stocks (LON:RTN) rose 8% in opening and currently trading +6.14% at 57,90 (0955GMT).
