Post-close update

RNS Number : 3013Z

Restaurant Group PLC

12 January 2011

 



The Restaurant Group plc

Post-close update

The Group's full year results will be announced in early March 2011 and profits for the 53 weeks to 2 January 2011 are expected to be just ahead of the consensus of market forecasts. Against a challenging economic backdrop this represents a good performance.

Turnover for the 53 week period to 2 January 2011 was 7% ahead of 2009 (a 52 week period) and like-for-like sales were 1% below the prior year. Turnover for the final part of November and the first four weeks of December was impacted by the unusually harsh weather conditions experienced throughout the UK, although since then trading has been very strong. New openings were ahead of the previous year with 24 new restaurants opened during 2010. Trading at these new sites has been above expectations and they are expected to deliver strong returns.  The Group is targeting 22 to 27 new openings during 2011.

Looking forward, whilst we expect a continuation of the challenging economic conditions, our efforts will be focused on delivering further profitable progress in 2011.

Andrew Page, CEO of The Restaurant Group, said:

"We had to cope with some very challenging conditions last year. Our people responded magnificently and this, combined with the strength of our brands, enabled the Group to produce another year of profitable progress. We will be looking to build further on this in 2011."

12 January 2011

ENQUIRIES:

The Restaurant Group plc	Tel: [phone]
Andrew Page, Chief Executive Officer
Stephen Critoph, Group Finance Director
College Hill	Tel: [phone]
Matthew Smallwood

Jamie Ramsay

Notes:

1.   The results for the 53 week period to 2 January 2011 are expected to be announced in early March 2011.

2.   2010 is a 53 week accounting period ending on 2 January 2011. The total revenue information provided in the statement reflects the additional week. On a comparable 52 week basis, the total revenues of the Group increased by 4%. Like-for-like information is provided for a comparable number of weeks to 2 January 2011.

3.   2011 will be a 52 week accounting period ending on 1 January 2012.

 

END

 

 

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