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The Restaurant Group - Net debt almost eliminated

April 2013

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:
  • 449p
Shares in Restaurant Group, which operates the Frankie & Benny's, Chiquito and Garfunkels chains, registered a new high of 454p on the back of strong final results, which disclosed a 7% rise in pretax profit to £64.6m on revenues, which rose 9% to £533m. Eps increased 10% to 24.1p, while the dividend was raised 12% to 11.8p. With free cash flow rising almost £8m to £69.2m net debt fell £5.6m to £36m, representing net debt / EBITDA of just 0.38x. During the year, Restaurant Group opened 28 new outlets, with capital expenditure hitting almost £40m and this expansion was supplemented by solid like-for-like sales growth of 4.5%, in spite of headwinds from the anaemic UK economy. Cost inflation was an issue, notably food and ...

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