TRG eyes more sites for Wagamama
The group’s long-term plan is to reach 220 restaurants in the UK.
The Restaurant Group is planning to reach 220 restaurants in the UK, with eight to ten sites planned to open in FY2024.
In it’s latest tradings update, TRG reported a revenue from continuing operations for the financial year ending 2023 of £824m which represented an increase of 14.9% on the prior year.
The statutory operating profit was at £29.8m for FY2023, up from £4.8m attributed to the strong trading performance, good cost control and lower exceptional costs.
TRG however reported a loss after tax of £25.5m.
“Strategic progress since the acquisition by Apollo has been pleasing. We are on track to open 10 more Wagamama sites in the UK during 2024 and we have acquired 100% ownership of our Wagamama business in USA. Whilst the consumer backdrop in the UK, USA and Europe remains challenging, we remain confident in the potential to continue growing Wagamama, Brunning & Price and TRG Concessions in the years ahead,” Andy Hornby, CEO of The Restaurant Group said.
