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The Restaurant Group - Acceleration in new openings

February 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:
  • 372p
Restaurant Group has cheered investors by announcing that profits for the year to end December 2012 will be just ahead of consensus forecasts. Turnover was ahead 9% with like-for-like sales 4.5% ahead, helped by strong cinema attendances, while group operating margins are expected to be similar to 2011. New openings were ahead of the previous year with 28 restaurants opened in 2012. Encouragingly, trading at these sites has been excellent and generating strong returns and the group is accelerating its 2013 program from 25-30 to 28-35 new openings. Broker, JP Morgan Cazenove has pared 2013 eps forecasts 1% to 26.5p reflecting higher than expected food cost inflation. Nevertheless, the acceleration in expansion will boost eps ...

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