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The Restaurant Group - To open at least 22 outlets in 2011

October 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:
  • 275p
Restaurant Group, the owner of Frankie & Benny's, Chiquito and Garfunkels, has again demonstrated how its family oriented eateries can thrive in hard times by announcing a 7.5% rise in sales to £234m while pretax profit increased 8% to £24.4m. In spite of input cost increases operating margins only declined 0.2% to 10.8%, while strong free cash flow of £23.8m (H1 2010: £20.6m) meant net debt reduced from £65.6m to £51.1m and is well within bank facilities of £120m. During H1 it opened seven new outlets while it is targeting 22-27 for 2011 as a whole. Current trading is strong with like-for-like sales for the first 34 weeks to 28 August growing 2.75%. Latest (unchanged) forecasts from JP Morgan Cazenove are for ep ...

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