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Restaurant Group - Shares approaching £3

February 2011

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:
  • 296p
Shares in the Frankie & Benny's , Chiquito and Garfunkels restaurant firm have gained nearly £1 since we recommended them in October '09, with the latest rise following a positive post-close update, which noted that profits are expected to be just ahead of consensus forecasts. For the 53 weeks to 2 January turnover was 7% ahead while like-for-like sales fell 1%, mainly reflecting a nasty 8% like-for-like decline in the last two months because of the harsh weather. The group opened 24 new restaurants, exceeding the previous year's total and these have exceeded trading expectations. Management intend to open 22-27 this year. Assuming no repeat of those unusual events such as the ash cloud and the worst snow for 30 years, ...

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