The Restaurant Group – formerly known as City Centre Restaurants – has reported a 14.4 percent rise in its full year, pre-tax profits.

The chain that runs the Garfunkel’s, Est Est Est and Frankie & Benny’s establishments announced profits of £19.3m for the year ending 31 December.

Trading for 2004 has also begun well, as like for like sales for the first four weeks of the new financial year are ahead by five percent.

The group has traded well on the stock markets, and has until recently has been buoyed by the possibility of a merger with Ask Central.

The Restaurant Group had already agreed on a £168m deal for Ask, but the deal now looks uncertain as private equity group TDR Capital last week tabled a bid for Ask worth £211m.

Ask has 171 restaurants in its portfolio and opened 30 new restaurants during 2003 under the two core brands Ask Central and Zizzi.

TDR Capital last year acquired the Pizza Express chain for a deal worth £277.8m. Details: www.frankieandbennys.com or www.askcentral.co.uk