Wagamama owner reports strong sales in FY results

The Restaurant Group (TRG) has announced that its total sales hit £636.6m in the year ended 2 January 2022, marking an improvement from the £459.8m reported in FY20.

Meanwhile, its adjusted EBITDA totalled £81.2m on a pre IFRS 16 basis, up from £8.7m in 2020, while profit before tax was £16.6m on a pre IFRS 16 basis, a significant rise from the loss of £47.9m in 2020. 

Its Wagamama business saw like-for-like sales soar by 15% in the period, while pubs rose by 9%, and leisure by 14%, all since reopening for dine-in on 17 May 2021. 

The group noted that current trading has continued to be strong, reportedly “outperforming” the market for the first two months of FY22.

Andy Hornby, CEO, said: “2021 was a year of substantial progress at TRG. The recapitalisation of the balance sheet and strong trading performance have allowed us to deliver a robust set of financial results despite the various  restrictions that have impacted the sector. 

“I’d like to thank every single one of our teams who have gone the extra mile on so many occasions  during 2021 and delivered a market outperformance across all our brands.”