Restaurant Group serves up strong sales in first three quarters of 2015

Restaurant Group said it was confident to meet its full year expectations as it remained upbeat on the outlook for the remainder of 2015.

The pub and restaurant operator said total sales in the first 45 weeks of the year were 8% higher year-on-year, while like-for-like sales advanced 2% and it expects the good progress made so far to continue over the next six weeks.

The FTSE 250 group said the 25 new restaurants it has opened so far in 2015 have been performing well and are set to deliver results in line with the company’s expectations, adding it expects to open between 43 and 45 new sites in total this year, compared with the 40 it launched a year ago.

Looking ahead, Restaurant Group indicated it forecast to open a similar number of sites next year and the pipeline of new sites remained strong.

"The group's balance sheet position remains strong and cash continues to be generated at levels which allow the group to maintain investment in our existing portfolio and open new restaurants," it said in a trading update.

Restaurant Group shares were down 1.93% to 687.00p at 0825 GMT on Thursday.