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Restaurant Group - To open 36-43 outets this year

July 2014

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:
  • 580p
Restaurant group, owner of the Frankie & Benny’s, Chiquito and Garfunkels chains, produced a strong trading update with total sales rising 11% (including 4% like-for-like) for the first 19 weeks of the year. 15 new restaurants opened, which are trading well and set to deliver good returns and in total 36-43 are expected to open in the year. Encouragingly, the quality of the new site pipeline over the next three years is the strongest it’s been since before the financial crisis. The balance sheet remains strong with good cash generation from operations. Originally tipped at 196p in October ’09, the shares have gained 196%. Part profits should have been taken at prices as high as 700p but we would hold the ...

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