Restaurants Group Plc (RTN) Reported Its 19-Weeks' Trading Update

May 20, 2019 11:55 PM CEST | By Team Kalkine Media
 Restaurants Group Plc (RTN) Reported Its 19-Weeks' Trading Update

The Restaurants Group plc is a casual dining restaurant and pub group. The company operates through the following brands: Frankie & Benny's, Brunning & Price, Cost to Coast, Joe's Kitchen, Garfunkel's, TRG concessions and Chiquito. It serves breakfast, lunch, evening snacks, dinner, desserts and drinks. The company's restaurants offer Italian, Mexican and American cuisines including pizzas, pastas, grills, sandwiches, steaks, sides, burgers and other popular dishes. It operates outlets across London, the Midlands, Wales, Northern Ireland and Scotland, the UK including concession outlets located in airports in the UK.

Trading Update for 19 weeks (ended 12th May 2019)

Total sales jumped by 57 per cent primary because of the healthy benefit from the acquisition of Wagamama and a record number of new Pubs and Concession sites started during the period 2018.

Wagamama reported a strong performance during the reported period and continued to outperform considerably in its core UK market. Their Pub segments have consistently traded above the pub restaurant sector. Group's concessions business performed well, and the group remain concentrated on optimising their leisure segment against the backdrop of a weakening market.

The group reported a comfortable performance in the first 19 weeks of the current fiscal year and will concentrate on realising the synergies from the Wagamama acquisition, implementing on the prolonged growth strategy and optimising Leisure business segment.

Shares of the Restaurant Group Plc declined considerably in the past one-year and touched a 52w high of GBX 244.41 and a 52w low of GBX 110.10.

Daily Price Chart (as on May 20, 2019), before the market closed. Source: Thomson Reuters.

On May 20, 2019, at the time of writing (before the market close, as on May 20, 2019), shares of the Restaurant Group Plc were quoting at GBX 129.7 and added 0.70 per cent against the previous closing price. At the current price level, as quoted in the price chart, shares were considerably trading below its 200-day simple moving average price level, which is an unfavourable technical indicator.

The stock is carrying a beta of 1.32x, which indicates that the volatility is higher in the stock against the benchmark index.

The outstanding market capitalisation of the company stood at around £640.42 million, which ranks it among the small-cap stock listed on the London Stock Exchange. The dividend yield of the company stood at 5 per cent.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles