The Restaurant Group lifts profit expectations

The Restaurant Group has raised profit expectations after a strong Christmas period.

Although the Wagamama owner was affected by work from home guidance and Covid restrictions, sales remained strong in the previous quarter.

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In October and November, sales were up 11% and 8% compared to the same periods in 2019. Sales in December dipped 10%.

Profits for 2021 are expected to be at the top end of expectations (£73-£79m).

The group has warned that it could take a while to recover, despite restrictions lifting next week.

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