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Secondary Recommendation

Restaurant Group - Cash generative restaurant chain could attract bid

October 2010

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:
  • 263p
After seeing its eps forecast increased by a whopping 30% last October the Restaurant Group has again triggered a round of broker upgrades following very strong interim results and with several predators believed to be circling, its days as an independent firm look numbered. The origins of the group can be traced back to 1979 when legendary restaurant entrepreneur Philip Kaye founded Garfunkels, a concept combining popular British and American dishes, located in popular tourist destinations. While the group subsequently developed several other chains it lost its way after Kaye left but the arrival of current chief executive Andrew Page in 2001 transformed its financial fortunes with pretax profit increasing from £15.6m that year ...

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