AGM Statement

RNS Number : 1128N

Restaurant Group PLC

14 May 2015

 

The Restaurant Group plc

 Trading statement

 

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

Current trading

Trading for the 19 week period ended 10 May 2015 has been good, with total sales 8.5% ahead of the previous year and like-for-like sales 2.0% ahead.  

In the year to date we have opened 9 new restaurants.  These sites are trading well and are set to deliver strong returns. 

In total we expect to open between 42 and 50 new restaurants this year (2014: 40), approximately two thirds of which will open in the second half. The quality and visibility of our new site pipeline over the next three years remains excellent.  

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 28 December 2014 of 9.3p per share will be paid on 8 July 2015 to shareholders on the register on 19 June 2015. This will make the full year dividend in respect of 2014 a total of 15.4p per share which represents a 10% increase on the 2013 dividend.

Outlook

The Group is trading in-line with expectations and we are on track to report a good first half performance.  With an improving film release schedule and slightly easier comparatives in the last four months of the year, we anticipate momentum continuing to build well in the second half of the year.

14 May 2015

ENQUIRIES:

The Restaurant Group plc	Tel: [phone]
Danny Breithaupt, Chief Executive Officer
Stephen Critoph, Chief Financial Officer
Instinctif Partners	Tel: [phone]
Matthew Smallwood

Notes for Editors:

1.   The Restaurant Group plc operates over 470 restaurants and pub restaurants predominantly in leisure locations and airports. Its principal trading brands are Frankie & Benny's, Chiquito, Coast to Coast, Garfunkel's, Brunning & Price and a 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.

 

END

 

 

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