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RTN Restaurant Group Plc

64.80
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Restaurant Group Plc LSE:RTN London Ordinary Share GB00B0YG1K06 ORD 28 1/8P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 64.80 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Restaurant Group PLC Trading statement (2833G)

26/05/2017 7:00am

UK Regulatory


Restaurant (LSE:RTN)
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TIDMRTN

RNS Number : 2833G

Restaurant Group PLC

26 May 2017

The Restaurant Group plc

Trading statement

At the AGM of The Restaurant Group plc (the "Group"), to be held later today, Debbie Hewitt, Chairman, will provide the following trading update:

Current trading

Like-for-like sales for the 20 weeks ended 21 May 2017 have declined 1.8%, with total sales decreasing by 1.5%.

In the period we saw strong performances from our Concessions business, benefitting from strong growth in passenger numbers, and from our Pubs business, helped by favourable weather. We continue to be focused on the turnaround of the Leisure businesses which benefited from cinema admissions having a good start to the year. Over the remainder of the year, growth in passenger numbers and cinema admissions is anticipated to moderate.

The implementation of our strategy is progressing well as we make the required investments in price, marketing and our offer.

Outlook

2017 is a transitional year. We continue to address the competitiveness of our Leisure businesses and are focused on achieving a sustainable volume-led turnaround. Where opportunities to accelerate our progress present themselves, we will invest appropriately.

Accordingly, we continue to expect to deliver a PBT outcome for the full year in-line with current market expectations.

Balance sheet and financial position

The Group's balance sheet remains strong and continues to benefit from good cash generation from our operations.

Subject to approval at the AGM, the final dividend in respect of the year ended 1 January 2017 of 10.6p per share will be paid on 7 July 2017 to shareholders on the register on 16 June 2017. This will make the full year dividend in respect of 2016 a total of 17.4p per share.

Enquiries:

 
 The Restaurant Group 
  Andy McCue, Chief Executive 
  Officer                          020 3117 5001 
 Instinctif Partners 
  Matthew Smallwood 
  Guy Scarborough                  020 7457 2020 
 

Notes:

1. The Restaurant Group plc operates 491 restaurants and pub restaurants throughout the UK. Its principal trading brands are Frankie & Benny's, Chiquito, Coast to Coast and Brunning & Price. It also operates a multi-brand Concessions business which trades principally in UK airports.

   2.   This statement is based on information sourced from management accounts. 

3. Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences are "forward-looking statements" within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group's current expectations concerning future events and actual results may differ materially from current expectations or historical results.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMFMGZKKKZGNZM

(END) Dow Jones Newswires

May 26, 2017 02:00 ET (06:00 GMT)

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