Restaurant Group increases its 2014 interim dividend by 16%

DividendMax Ltd.

Restaurant Group increases its 2014 interim dividend by 16%


* all results are stated excluding non-trading items

- Total revenue increased 10% to £308m (2013: £280m)

- Like-for-like sales increased by 2.5%

- Operating profit margins increased by 20bps

- EBITDA increased by 13.5% to £53.2m (2013: £46.9m)

- Profit before tax increased by 12.3% to £33.7m (2013: £30.0m)

- EPS rose 15% to 12.8p (2013: 11.2p)

- Operating cash flow of £55.9m (2013: £49.4m) 

Interim dividend increased by 16% to 6.1p per share (2013: 5.25p)

Acceleration of new site development:

- 17 new sites opened in the first half

- A further three new sites opened so far in the second half

- 38-43 new sites expected for 2014

Continued strong trading with year to date like-for-like sales for the 34 weeks to 24 August 2014 at 3.5%

Board is confident of another year of good progress in 2014

Andrew Page, Chief Executive of The Restaurant Group plc commented as follows:

"The Restaurant Group has delivered another record set of results, with double digit growth in earnings, dividends and cashflow.

These results reflect the hard work and efforts of all of the TRG team and I would like to record my thanks to them for delivering another outstanding performance.

The Restaurant Group is in great shape, I am confident that it will continue to prosper and I wish Danny and the TRG team well as they take the business forwards."

Danny Breithaupt, incoming Chief Executive, added:

"I am delighted to be taking on the leadership of TRG with the business in such great shape. TRG has a clear strategy, successful brands and a great team of people. This is a terrific platform for the further growth of the business, and I am looking forward to building on this and leading the Company through its next phase of development."

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