Restaurant Share Discussion Threads

[tygarreg] 12/10/2023 16:28

Just seen an article saying they are holding out for a bigger offer. Hold on tight!

[mr whizz] 12/10/2023 13:13

The bid is at 65p but the share price is just over 66p as I write so the market must think something else could happen.....hopefully another bidder in the wings??!

[66fingers] 12/10/2023 13:06

Any prospects of a counter offer for the company?

[grafter] 12/10/2023 12:09

The deal with Apollo comes after a long-running battle with Oasis Management, which in February, accused the board of mismanaging the company and overseeing "one of the worst performing share prices of any UK leisure company"

[ny boy] 12/10/2023 11:00

Not good I guess for those who had bought before the pandemic. I lot shareholders getting shafted by falling sap’s and low ball successful takeouts

Not in these, just an observation, it doesn’t necessarily pay to hold long term, stock picking going forward all important.

[amelio] 12/10/2023 07:32

What a time to have bought yesterday lol :-)

[amelio] 11/10/2023 11:21

Testing intra day highs. Push baby push :-)

[amelio] 11/10/2023 10:44

Chart looks to have consolidated and building steadily now, looking to a breakout above 51p and expect that will occur shortly.

[adobbing] 26/9/2023 12:54

Wagamama’s Activist Menu Is Gaining Traction

Activist shareholders look to be setting the menu for Wagamama owner Restaurant Group Plc. Having rebuffed calls for change earlier this year, the company has moved to embrace several key recommendations put forward by funds such as Oasis Management Co. and Irenic Capital Management. With investor pressure unlikely to let up, further changes can be expected that focusTRG more tightly on its prized Asian-style noodle chain — and potentially burnish the company’s appeal as an acquisition target.

TRG has already taken three steps this month that can be seen as concessions to dissenting shareholders: introduced segmental reporting in its interim results; agreed to sell its unprofitable leisure division, including the Frankie & Bennys and Chiquito brands, for the nominal sum of £1 plus a cash contribution of £7.5 million ($9.2 million); and announced the departure of Chairman Ken Hanna, who has said he won’t seek re-election at next year’s annual general meeting for personal reasons. Hanna was the target of activists’ complaints over governance failings; New York-based Irenic, led by Andy Dodge and Elliott Investment Management alumnus Adam Katz, called in July for him to step down.

The changes reinforce what the investors have been saying: that Wagamama is by far the group’s most attractive asset, and should be the focus of TRG’s capital and energies. It is bigger, more profitable and growing faster than the Brunning & Price pub chain, the company’s other principal brand. That unit is also performing well, with a 10% increase in adjusted Ebitda in the first half. The same measure rose 25% at Wagamama, though.

[adobbing] 25/9/2023 12:00

Reading over the RNS about disposal of the retail business, can’t see any mention of Barburrito.
Presumably they’re keeping it and carrying out their stated aim of expanding it?
I see they’re now at 17 sites, after opening a site in Aberdeen again.
In a way it’s a shame they couldn’t repurpose some of the retail units into Barburrito, it’s a million miles away from the slop that Chiquitos serve and the Barburrito sites always seem busy.

[grafter] 11/9/2023 08:20

Bloomberg - 'RTN looking very appetising today'

[adobbing] 10/9/2023 08:43

The owner of Cafe Rouge is in talks to buy Chiquito's and Frankie and Benny's, two of Britain's best-known restaurant chains.

Sky News has learnt that The Big Table, which is backed by the private equity firm Epiris, is negotiating the acquisition of the two brands from The Restaurant Group (TRG), the London-listed owner of Wagamama.

Banking sources said this weekend that the talks were at an advanced stage and could lead to an imminent agreement.

They warned, however, that a deal could yet fall apart.

If completed, the takeover would involve TRG paying a multimillion pound dowry to The Big Table to take Chiquito's and Frankie and Benny's off its hands, sources said this weekend.

[libertine] 09/9/2023 13:53

hxxps://www.thesun.co.uk/money/23883593/restaurant-group-owner-sell-frankie-bennys-chiquito/

[libertine] 07/9/2023 14:55

Nobody has told me I can`t spend!

[adobbing] 07/9/2023 14:54

The Restaurant Group (TRG) has reported a 10% increase in revenue, driven by “standout” performances across its pubs and concessions.

According to TRG’s interim results in the 26 weeks to 2 July this year, total revenue was up 10% against last year, rising from £423.4m to £467.4m.

TRG chief executive Andy Hornby said: “We are encouraged by the significant progress made in the first eight months of the year, delivering strong like-for-like sales growth despite the consumer backdrop.”

Within the TRG pub estate, which includes Brunning & Price, the business saw an 8% like-for-like increase while its other ventures, namely Wagamama and concessions trade, benefited from a 7% and 29% upswing respectively.

Excellent progress

In addition, the report showed like-for-like sales in the eight weeks to 27 August had increased 5% across the group’s pub estate, rising to 10% when combing Q2 and Q3 this year.

The group’s previous trading update​ demonstrated its pub division also saw a 5% rise in total like-for-like sales in 13 weeks to 2 April 2023 compared with the same period in 2022.

Hornby added the firm had “increased its expectations” for FY23 adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) in light of the “strong trading”.

“We are making excellent progress on our medium-term plan”, he continued.

Well positioned

The group also reported an adjusted EBITDA of 15% for H1 2022, from £31.3m to £36.3m, and profit before tax of £7.2m.

Net interest costs were estimated to be higher than last year, up from £16.3m to £17.3m, however, the overall “strong trading performance” across the board was attributed in part to “good cost control” and “lower exceptional costs”.

In addition, the report stated TRG was “well positioned” to deliver its targeted EBITDA margin and deleveraging, while its board would “continue to actively explore strategic options to further accelerate” this.

Hornby concluded: “A massive thanks to each and every one of our dedicated team members who have worked so hard to deliver these excellent results.”

[mashman] 06/9/2023 18:25

LOL. Gregg. Are you ignoring the coming clampdown on spending?

[libertine] 06/9/2023 17:31

Shore Capital leisure analyst Gregg Johnson commented: ‘The first-half results demonstrated continued trading momentum, enhanced disclosure, and significant progress against the group's medium-term targets, which could see EBITDA build towards £130m or earnings per share of 7p.

‘We do not believe this is being reflected in the current valuation of 6 times EBITDA and see fair value closer to 70p/share, or 120p/share on delivery of the medium-term targets.’

[chalkie78] 06/9/2023 13:16

Great results and down over 3%....classic stock market activity lol

[the imperialist] 06/9/2023 08:05

Great results. Institutional money should continue to poor into RTN now. Enjoy the ride.

[libertine] 24/7/2023 08:38

TMR Capital eyes bid for Restaurant Group's Frankie & Benny's division

[essentialinvestor] 19/7/2023 12:50

You don't say! ;