Post-close update

RNS Number : 2293X

Restaurant Group PLC

09 January 2014

 



9 January 2014                                                                 

The Restaurant Group plc ("the Group")

Post-close update

The Group's full year results will be announced by early March 2014 and profits for the 52 weeks to 29 December 2013 are expected to be ahead of the consensus of market forecasts.

Turnover for the 52 weeks to 29 December 2013 was 9% ahead of the prior year and like-for-like sales were 3.5% ahead.  Group operating margins for 2013 are expected to show progress on 2012.

New openings were ahead of the previous year with 35 restaurants opened in 2013. Trading at these sites has been excellent and they are set to deliver strong returns. The Group expects to open between 36 and 43 new sites in 2014.

Looking forward, whilst we anticipate similar economic conditions to 2013, our efforts will be focused on delivering further profitable progress in 2014.

Andrew Page, CEO of The Restaurant Group plc, said:

"In 2013, The Restaurant Group again delivered another excellent performance with increased sales, margins and record profits. Our value for money offerings and brands with wide appeal encouraged more customers to dine in our restaurants and enjoy our hospitality. Sales increased by 9%, with like for like sales 3.5% ahead of the prior year. Profits were well ahead of 2012 and cash generation was strong. During 2013 we opened 35 new restaurants, creating over 1000 new jobs and this year we expect to open between 36 and 43 new restaurants. Last year we asked a lot of our people and the TRG team responded magnificently to deliver these excellent results. I am extremely grateful to them and know that their focus is now directed towards delivering another great result in 2014."

ENQUIRIES:

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

Notes:

1.   The Board is aware of a range of forecasts for profit before tax for 2013, the consensus of which is £71.6m.  Nothing in this announcement should be construed as a profit forecast.

 

END

 

 

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