Frankie & Benny’s owner TRG puts new jobs on menu with plans to expandComments Off on Frankie & Benny’s owner TRG puts new jobs on menu with plans to expand
The Restaurant Group, which also owns about 50 pubs across the country, said its customers were likely to have more spare money in their pockets in 2015 as the economy gains momentum.
“After five years of decline, we are now starting to see increasing real incomes,” said boss Danny Breithaupt, who also predicted a stronger year for the UK film industry, which is important to the company as many of its chains are based near cinemas.
“Following 2014, which has been the weakest year for cinema admissions for many years, 2015 and 2016 are expected to show significant growth as a result of much stronger film release schedules,” he added.
Big releases this year include Fifty Shades of Grey, Jurassic World and Star Wars: The Force Awakens.
The timing of Christmas boosted the group in December with like-for-like sales up 5% over the fortnight ending January 4 as people took longer breaks. It plans to open between 42 and 50 new restaurants over the coming months.
The shares today rose 8p to 693p. Sohil Chotai, analyst at Edison Investment Research, said the company had benefited from “tasty Christmas trading”.
“The group should benefit from tailwinds from stronger disposable incomes and a blockbuster-filled cinema schedule for 2015,” he added.