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Restaurant Group (RTN)

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Wagamama acquisition helps boost The Restaurant Group

17 May 19

LONDON (ShareCast) - (Sharecast News) - Eatery operator The Restaurant Group said its current trading was in line with its own expectations on Friday, with group like-for-like sales for the 19 weeks ended 12 May ahead 2.8%, as its investors gathered for their annual general meeting.
The FTSE 250 company, which owns a number of brands including Frankie & Benny's and Garfunkel's, said total sales were up 57% in the period.

It said that reflected the benefit from the acquisition of Wagamama, as well as the record number of new pubs and concession sites opened during 2018.

Chairman Debbie Hewitt said that in the period, the firm saw strong performances from Wagamama which had continued to significantly outperform in its core UK market, and from the pubs business, which consistently traded ahead of the pub restaurant sector.

She said the concessions business also traded well, with The Restaurant Group remaining focused on optimising its leisure business against the backdrop of a declining market.

"We are comfortable with the performance in the first 19 weeks of the current financial year and remain focused on realising the synergies from the Wagamama acquisition, executing on our multi-pronged growth strategy and optimising our leisure business," Debbie Hewitt said in a statement ahead of the meeting.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 106.30p
Change Today -2.70p
52 Week High 166.40p
52 Week Low 103.60p
Volume 674,174
Shares Issued 201.07m
Market Cap 213.73m


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