Frankie and Benny’s owner sees share rise after drop in sales

The company behind Frankie and Benny’s, Chiquitos and Garfunkel’s, Restaurant Group, has seen shares rise by 4.9% up to 329p.

The company attributes the share price increase to “strategic initiatives” from which it expects to see further success “as the year progresses”.

The company is also now looking to open 12 new concessions sites along with 10 pubs as it looks to expand despite 41 planned closures.

Restaurant Group had previously seen a total sales drop of 3.1% in the previous financial year due to bad weather and high street footfall.

The group said that it expects to meet forecasts despite analysts predicting potential rough waters.