Sales rise and losses narrow for TRG following ‘transformational year’
🍕 The Restaurant Group (TRG) saw its revenue increase to £824m in 2023, up from £717m in 2022. Pre-tax losses narrowed to £19.6m from £29.1m previously. TRG disposed of its leisure division, comprised of 75 sites, to Big Table Group and was subsequently acquired by Apollo Funds for £506m. Operating profit for continuing operations jumped to £29.8m in 2023 from £4.6m. Wagamama, part of TRG, experienced an 11% growth, while TRG plans to open 10 new Wagamama restaurants and grow its UK presence to 200-220 sites, with 20-30 in the US by December 2027.
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