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Restaurant Group - To open another 25/30 restaurants

April 2012

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:
  • 301p
Results from the Frankie & Benny's and Garfunkels chain owner, which were well-flagged by its pre-close update, revealed a 7% rise in revenues to £487m and 12% increase in pretax profit to £60.3m. Eps rose 14% to 22p. Net debt reduced by £5m to £41.6m and is now just 0.48x EBITDA, while the dividend was raised 17% to 10.5p. With consumers cautious it still achieved a creditable 3.25% increase in like-for-like sales during the year with the final seven weeks strong. However, 2012 got off to a “slowish†start with underlying sales minus 2%. Nevertheless it will still open 25-30 new restaurants this year. Liberum has reduced eps forecasts by 4% to 23.4p, rising to 26.6p in 2013, while it expects net debt to be reduc ...

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