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Restaurant Group - Full operating review launched

June 2016

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
After bringing forward its trading update Restaurant Group warned full year profits would now be in the range of £74m-£80m in FY’16 down from nearly £87m in 2015. It blamed customers’ increasing wariness to spend, while due to growing popularity of online shopping fewer people were visiting retail parks, where nearly 40% of its Frankie & Benny’s restaurants (its biggest brand and the worst affected) are based. Overall like-for-like sales fell 2.7% in the 17 weeks to 24 April. Total sales rose 4.7%.In terms of space expansion, management said it will open fewer outlets than last year but it will still be greater than 30.Jim Slater used to say profit warnings come in 3s and with the third ...

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