Restaurant Group PLC Trading statement (2833G)
26 May 2017 - 4:00PM
UK Regulatory
TIDMRTN
RNS Number : 2833G
Restaurant Group PLC
26 May 2017
The Restaurant Group plc
Trading statement
At the AGM of The Restaurant Group plc (the "Group"), to be held
later today, Debbie Hewitt, Chairman, will provide the following
trading update:
Current trading
Like-for-like sales for the 20 weeks ended 21 May 2017 have
declined 1.8%, with total sales decreasing by 1.5%.
In the period we saw strong performances from our Concessions
business, benefitting from strong growth in passenger numbers, and
from our Pubs business, helped by favourable weather. We continue
to be focused on the turnaround of the Leisure businesses which
benefited from cinema admissions having a good start to the year.
Over the remainder of the year, growth in passenger numbers and
cinema admissions is anticipated to moderate.
The implementation of our strategy is progressing well as we
make the required investments in price, marketing and our
offer.
Outlook
2017 is a transitional year. We continue to address the
competitiveness of our Leisure businesses and are focused on
achieving a sustainable volume-led turnaround. Where opportunities
to accelerate our progress present themselves, we will invest
appropriately.
Accordingly, we continue to expect to deliver a PBT outcome for
the full year in-line with current market expectations.
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 1 January 2017 of 10.6p per share will be paid on 7
July 2017 to shareholders on the register on 16 June 2017. This
will make the full year dividend in respect of 2016 a total of
17.4p per share.
Enquiries:
The Restaurant Group
Andy McCue, Chief Executive
Officer 020 3117 5001
Instinctif Partners
Matthew Smallwood
Guy Scarborough 020 7457 2020
Notes:
1. The Restaurant Group plc operates 491 restaurants and pub
restaurants throughout the UK. Its principal trading brands are
Frankie & Benny's, Chiquito, Coast to Coast and Brunning &
Price. It also operates a multi-brand 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMFMGZKKKZGNZM
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