Wagamama owner sees strong trading since venue reopening

Wagamama owner The Restaurant Group has hailed "good progress" over the past half year as it said strong trading since reopening venues has seen it upgrade its earnings targets.
Wagamama in Leeds.Wagamama in Leeds.
Wagamama in Leeds.

The company, which operates 400 pubs and restaurants across the UK, said it has seen 21 per cent like-for-like growth across Wagamama since reopening until August 29, with its pubs business reporting 14 per cent growth.

The group also revealed that it posted a £58.8m statutory loss for the half-year to July 4, compared with a £234.7m over the same period last year.

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Andy Hornby, chief executive officer of The Restaurant Group, said: "We have made good progress in the past six months, securing the refinancing and recapitalisation of the group in the first quarter before focusing our attention on the reopening of the business and welcoming back dine-in customers as Government restrictions eased.

"I am particularly proud of the way that our teams have pulled together to support one another, ensuring a great experience for our customers and delivering a strong like-for-like sales outperformance versus the market.

"Whilst there are some well documented sector challenges to navigate in the short-term, particularly around labour availability and supply chain, we believe the group is well positioned for the long-term."


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