viewRestaurant Group PLC

Restaurant Group shares dip after reports "significant" growth


Shares in Restaurant Group (LON:RTN), which owns Frankie & Benny's and Garfunkels, dipped despite "significant" growth in revenue, profits and cash flow.

Releasing results for the 52 weeks to December 29 last year, pre-tax profit increased 13% to stand at £72.7 mln on revenue of £580mln, which was up 9% compared to last year.

Chief executive Andrew Page said the group had delivered another strong performance in 2013, "building further on its consistent record of increasing earnings each year". 

"Our like-for-like sales were 3.5% ahead of the previous year, margins increased and all of our businesses grew sales and profits. Earnings per share were 16% ahead of the prior year. 

"We opened 35 new restaurants - these are trading well and are set to deliver excellent returns. Last year we created over 1,000 new jobs and this year we will create even more as we expect to open a further 36 to 43 new restaurants."

Shares eased 2.37% to 639p.

Quick facts: Restaurant Group PLC

Price: 54.9 GBX

Market: LSE
Market Cap: £323.44 m

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