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Subdued Q4 sends Restaurant Group lower

The Restaurant Group, which own and operates a range of restaurant brands including Frankie & Benny's and Garfunkel's fell 16.75% after confirming that it would meet the mid-range of market expectations, but posted very weak fourth quarter sales.

The Company said that like for like sales for the 52 weeks to 30 December 2007 increased by 5.5%, 0.5% ahead of 2006 figures, but investors took concern over the final quarter of like for like figures which showed only a 1% increase.

The Restaurant Group added that it had refinanced its banking facilities to provide £120 million for five years on improved terms.

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The Restaurant Group, which own and operates a range of restaurant brands including Frankie & Benny's and Garfunkel's fell 16.75% after confirming that it would meet the mid-range of market expectations, but posted very weak fourth quarter sales.

The Company said that like for like sales for the 52 weeks to 30 December 2007 increased by 5.5%, 0.5% ahead of 2006 figures, but investors took concern over the final quarter of like for like figures which showed only a 1% increase.

The Restaurant Group added that it had refinanced its banking facilities to provide £120 million for five years on improved terms.

Quick facts: Restaurant Group PLC

Price: 45 GBX

LSE:RTN
Market: LSE
Market Cap: £265.41 m
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