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The Restaurant Group

April 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • RTN
  • Price:
  • 230p
Finals were well ahead of expectations and led to brokers upgrading their forecasts. For the year to 27 December, revenues rose 5% to £436m, while pretax profit increased 2% to £50m. Eps rose 5% to 17.5p. Like-for-like sales grew 1% in the first nine weeks to February 28 and would have been better but for the heavy snow. Meanwhile, strong cash generation reduced net debt by £12.2m to £66.7m, leaving net debt / EBITDA at a very conservative 0.8 times. The largest division, Leisure, which includes Frankie & Benny's (188 units), Chiquito (63 units), Pub restaurants (42 units) and Garfunkel's (22 units), saw operating profit virtually unchanged at £69.1m, on turnover which rose from £329m to £353.6m. In the context of the s ...

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