The Restaurant Group plc
Final results for the 52 weeks ended 30 December 2012
The Restaurant Group plc ("TRG" or "the Group") operates 422 restaurants and pub restaurants. Its principal trading brands are Frankie & Benny's, Chiquito and Garfunkel's and it also operates a Pub restaurant business as well as a Concessions business which trades on over 60 sites, principally at UK airports.
The Group had a strong performance in 2012:
*Results marked as adjusted are stated excluding non-trading items.
|
2012 results |
Compared to 2011 |
|
- Revenue increased to £533m (like-for-like sales +4.5%) |
+9% |
|
- Adjusted EBITDA increased to £95.5m |
+6.5% |
|
- Adjusted profit before tax increased to £64.6m |
+7% |
|
- Adjusted EPS increased to 24.1p per share |
+10% |
|
- Proposed full year dividend of 11.8p per share |
+12% |
|
- Statutory profit before tax of £64.6m |
+33% |
|
- Statutory EPS of 24.1p |
+40% |
Operations strongly cash generative and net debt further reduced, by £5.6m to £36m
Roll out continues
o 28 new sites opened in the period
o 28-35 new sites targeted for 2013
Over 700 new jobs created in 2012
Strong current trading, with total sales up 14% and like-for-like sales at 6.5% for the eight weeks to 24 February 2013
Andrew Page, Chief Executive, said:
"The Restaurant Group produced another strong performance in 2012 with all parts of our business in growth. Like-for-like sales were up 4.5%; we delivered a 10% increase in earnings per share and a 13% increase in free cash flow. Last year, 28 new restaurants were opened; these are trading well and are set to deliver excellent returns. We are fortunate to have an outstanding team at TRG and, yet again, they worked diligently to deliver these superb results.
2013 has started well, with like-for-like sales 6.5% ahead, and the TRG team is focused on building further on this to secure another year of profitable progress."
