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The Restaurant Group reports 3% decrease in like-for-like sales

The Restaurant Group saw like-for-like sales decrease 3% and total sales drop 1.8% in the 52 weeks ending 31 December 2017, according to its latest financial results.

The group expresses that it has made ‘good progress’ in the four key elements of its strategy, which include re-establishing the competitiveness of its leisure brands, serving customers better and more efficiently, growing the pubs and concessions businesses, and building a leaner, faster and more focused organisation.

New chief financial officer Kirk Davis will join the company on 5 February.

“In 2017, we made solid progress against our strategic initiatives, resulting in improved volume momentum in our leisure business, a lower cost base and a more focused growth plan,” says The Restaurant Group CEO Andy McCue. “While the market has softened, we continue to benefit from strong cash generation and a healthy balance sheet.”

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