Retail parks fit the bill for the Restaurant Group
PEOPLE are getting a taste for eating at retail parks, helping the firm behind Frankie & Benny’s to serve up higher profits.
The Restaurant Group, which also owns Chiquito and Garfunkel’s, said its out-of-town restaurants were still pulling in diners despite economic gloom and a slight negative impact from the London Olympics.
It said its focus on providing a wide choice of meals suited to different parts of the day and a range of prices was enabling it to sustain demand without the price-cuts favoured by its rivals.
The group, which has 406 restaurants, said local marketing initiatives and involvement in community and charitable causes had also helped.
A spokesman said: “We offer what people want at a price they’re willing to pay.”
Profits in the 26 weeks to July 1 rose 7 per cent to £26.1million on a 7.5 per cent increase in revenue to £252million.
The company has opened 13 restaurants since the start of the year and hopes to launch up to 30 in total during the year as a whole.
We offer what people want at a price they’re willing to pay
Chief executive Andrew Page said year-to-date sales were 3.25 per cent above last year. “Trading continues to be good,” he said.