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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The Restaurant Group    RTN   GB00B0YG1K06

THE RESTAURANT GROUP

(RTN)
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Restaurant : to close some stores in leisure division, suspend dividend

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02/26/2020 | 04:20am EDT

Restaurant Group, the owner of the Frankie & Benny's chain, said on Wednesday it would shut stores in its leisure business and temporarily suspend its dividend.

The company, which operates restaurants and pubs in the UK under brands such as Chiquito and Coast To Coast, said it would reduce the number of stores to 260-275 by the end of 2021, from 350 currently.

Shares in Restaurant Group fell 3.4% to 113.5 pence at 0814 GMT.

The company has been struggling with falling sales in its leisure business that have also offset robust performance in its Wagamama, Concessions and Pubs units.

"This will allow us to continue investing in our three high growth businesses, whilst facilitating an acceleration of our Leisure estate rationalisation and reducing our net debt", Restaurant Group said.

The company reported statutory pretax loss of 37.3 million pounds for the full year ended Dec. 29, compared with a pretax profit of 13.9 million pounds last year.

Restaurant Group reported a 2.7% rise in its annual like-for-like sales, with total sales surging 56.4% to 1.07 billion pounds.

The company said trading for the first six weeks of 2020 was encouraging with like-for-like sales up 5.3%.

(Reporting by Samantha Machado in Bengaluru; Editing by Bernard Orr)

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Financials (GBP)
Sales 2019 1 065 M
EBIT 2019 90,4 M
Net income 2019 -5,44 M
Debt 2019 295 M
Yield 2019 13,3%
P/E ratio 2019 12,6x
P/E ratio 2020 9,90x
EV / Sales2019 0,48x
EV / Sales2020 0,58x
Capitalization 220 M
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Technical analysis trends THE RESTAURANT GROUP
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 120,71  GBp
Last Close Price 44,80  GBp
Spread / Highest target 346%
Spread / Average Target 169%
Spread / Lowest Target 27,2%
EPS Revisions
Managers
NameTitle
Andrew Hedley Hornby Chief Executive Officer & Director
Alison Deborah Moria Hewitt Independent Non-Executive Chairman
Kirk Dyson Davis Chief Financial Officer & Director
Michael Edward Tye Independent Non-Executive Director
Graham Colin Clemett Independent Non-Executive Director
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