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Restaurant Group PLC (RTN.L)

RTN.L on London Stock Exchange

226.60GBp
13 Nov 2018
Change (% chg)

-11.40 (-4.79%)
Prev Close
238.00
Open
235.00
Day's High
238.80
Day's Low
220.20
Volume
917,424
Avg. Vol
745,387
52-wk High
334.60
52-wk Low
220.20

Latest Key Developments (Source: Significant Developments)

Restaurant Group seeks to raise 315 mln stg in rights issue
Monday, 12 Nov 2018 

Nov 12 (Reuters) - Restaurant Group PLC ::SAYS FULLY UNDERWRITTEN RIGHTS ISSUE RAISING GROSS PROCEEDS OF APPROXIMATELY £315 MILLION TO PART FUND ACQUISITION OF WAGAMAMA.SAYS RIGHTS ISSUE IS BEING FULLY UNDERWRITTEN BY J.P. MORGAN SECURITIES PLC.SAYS RIGHTS ISSUE WILL RESULT IN ISSUE OF UP TO 290,430,689 NEW ORDINARY SHARES OF COMPANY.SAYS RIGHTS ISSUE WILL BE ON FOLLOWING BASIS: 13 FOR 9 RIGHTS ISSUE AT 108.5 PENCE PER NEW ORDINARY SHARE.SAYS EXECUTIVE DIRECTORS, WHO COLLECTIVELY HOLD 0.07 PER CENT. OF TRG'S TOTAL ISSUED ORDINARY SHARE CAPITAL AS AT 9 NOVEMBER 2018 WILL TAKE THEIR FULL PRO RATA ENTITLEMENT.SAYS EACH OF NON-EXECUTIVE DIRECTORS WHO HOLD ORDINARY SHARES INTENDS TO TAKE UP IN FULL HIS OR HER RIGHTS TO SUBSCRIBE.SAYS TRG: AFTER 42 WEEKS' TRADING IN 52-WEEK PERIOD ENDED 30 DECEMBER 2018, TOTAL SALES ARE DOWN 0.5 PER CENT.SAYS SINCE ANNOUNCEMENT OF TRG'S RESULTS FOR 26-WEEK PERIOD ENDED 1 JULY 2018 ON 31 AUGUST 2018, TRG HAS CONTINUED TO MAKE GOOD PROGRESS, AND LIKE-FOR-LIKE SALES ARE UP 1.4 PER CENT. IN 14-WEEK PERIOD SINCE END OF FIFA WORLD CUP..SAYS FOR 11-WEEK PERIOD FROM 20 AUGUST 2018 TO 4 NOVEMBER 2018, WAGAMAMA'S LIKE-FOR-LIKE SALES INCREASED BY 12.2 PER CENT.  Full Article

Restaurant Group Buys Asian-Food Chain Wagamama
Tuesday, 30 Oct 2018 

Oct 30 (Reuters) - Restaurant Group PLC ::PROPOSED ACQUISITION OF WAGAMAMA AND RIGHTS ISSUE.PROPOSED ACQUISITION OF WAGAMAMA AND FULLY UNDERWRITTEN £315 MILLION RIGHTS ISSUE.PROPOSED DEAL FOR ENTERPRISE VALUE OF £559 MILLION..ACQUISITION IS EXPECTED TO RESULT IN ESTIMATED COST SYNERGIES AND SITE CONVERSIONS SYNERGIES OF APPROXIMATELY £22 MILLION.DEAL EXPECTED TO BE EPS ENHANCING IN FIRST FULL YEAR FOLLOWING COMPLETION AND STRONGLY ACCRETIVE THEREAFTER.ACQUISITION'S RETURN ON INVESTED CAPITAL IS EXPECTED TO EXCEED WEIGHTED AVERAGE COST OF CAPITAL IN THIRD YEAR FOLLOWING DEAL COMPLETION.WAGAMAMA WILL BE RUN AS AN AUTONOMOUS DIVISION OF ENLARGED GROUP.EMMA WOODS, CURRENTLY WAGAMAMA CHIEF GROWTH OFFICER, WILL BECOME WAGAMAMA CEO.ALLAN LEIGHTON, CURRENT CHAIRMAN OF WAGAMAMA, WILL JOIN TRG BOARD AT COMPLETION AS A NON-EXECUTIVE DIRECTOR.ACQUISITION WILL BE FUNDED THROUGH A COMBINATION OF CASH, NEW DEBT AND A RIGHTS ISSUE.ACQUISITION WILL BE FINANCED THROUGH DRAWING ON A £220 MILLION REVOLVING CREDIT FACILITY THAT HAS BEEN UNDERWRITTEN FOR TRG.TRG WILL ASSUME NET DEBT OF £202 MILLION IN WAGAMAMA, WHICH INCLUDES £225 MILLION WAGAMAMA SENIOR SECURED NOTES.CONDITIONALLY AGREED TO PURCHASE ENTIRE ISSUED SHARE CAPITAL OF MABEL TOPCO, THE HOLDING CO OF GROUP THAT OWNS WAGAMAMA.FOLLOWING DEAL CLOSE, ENLARGED GROUP INTENDS TO ADOPT POLICY OF PAYING A DIVIDEND COVERED TWO TIMES BY EARNINGS BEFORE EXCEPTIONAL ITEMS.AFTER 42 WEEKS' TRADE IN 2018, TOTAL SALES WERE 0.5% DOWN ON COMPARABLE PERIOD IN 2017.  Full Article

Restaurant Group Selected Ernst & Young As New Auditor
Friday, 28 Sep 2018 

Sept 28 (Reuters) - Restaurant Group PLC ::RESTAURANT GROUP PLC - SELECTED ERNST & YOUNG LLP AS ITS NEW AUDITOR..  Full Article

Restaurant Group Says HY Like-For-Like Sales Down 3.7 Pct
Friday, 31 Aug 2018 

Aug 31 (Reuters) - Restaurant Group PLC ::H1 PRETAX PROFIT 11.7 MILLION STG VERSUS 12.6 MILLION STG YEAR AGO.H1 SALES 326.1 MILLION STG.HY LIKE-FOR-LIKE SALES DOWN 3.7 PCT.HY TOTAL SALES DOWN 2.1 PCT TO £326.1M (2017: £333.1M).INTERIM DIVIDEND MAINTAINED AT 6.8P PER SHARE.REMAIN ON TRACK TO DELIVER AN ADJUSTED PBT OUTCOME BROADLY IN LINE WITH CURRENT MARKET EXPECTATIONS FOR FULL YEAR.CURRENTLY ANTICIPATE OPENING BETWEEN 10 AND 15 UNITS IN 2019 WHICH WILL BE PREDOMINATELY WITHIN PUBS AND CONCESSIONS BUSINESSES.SEES TO DELIVER ADJUSTED. PBT OUTCOME FOR FY IN-LINE WITH CURRENT MARKET EXPECTATIONS GIVEN IMPACT OF ADVERSE WEATHER & WORLD CUP.PUBS & CONCESSIONS BUSINESSES HAVE TRADED STRONGLY WITH BOTH BUSINESSES EXPECTED TO DELIVER SIGNIFICANT TOTAL SALES GROWTH THIS YEAR.RECENT ACQUISITION OF FOOD & FUEL LTD WILL FURTHER ACCELERATE OUR GROWTH AT PREMIUM END OF PUB MARKET.HAVE ALSO RECENTLY COMPLETED ACQUISITION OF FOOD & FUEL LTD FOR £14.9M.RECENT TRADING HAS BEEN ENCOURAGING, WITH LIKE-FOR-LIKE SALES UP 2.4 PCT FOR SIX WEEK PERIOD SINCE END OF WORLD CUP.YEAR TO DATE LIKE-FOR-LIKE SALES FOR 34 WEEKS TO 26 AUGUST ARE DOWN 2.8 PCT.LIKE-FOR-LIKE SALES FOR FIRST EIGHT WEEKS OF SECOND HALF FLAT COMPARED TO LAST YEAR.EXPECT TO MITIGATE AROUND 50 PCT OF GROSS COST HEADWINDS OF £18M.REFURBISHMENT AND MAINTENANCE CAPITAL EXPENDITURE IN 2018 IS EXPECTED TO BE £20M TO £25M.  Full Article

Guangzhou Restaurant's share trade to debut on June 27 in Shanghai
Monday, 26 Jun 2017 

June 26 (Reuters) - Guangzhou Restaurant Group Co Ltd :* Says share trade to debut on June 27 in Shanghai.  Full Article

Restaurant Group says like-for-like sales for 20 weeks ended May declined 1.8 pct
Friday, 26 May 2017 

May 26 (Reuters) - Restaurant Group Plc :Like-For-Like sales for 20 weeks ended 21 may 2017 have declined 1.8%, with total sales decreasing by 1.5.Like-For-Like sales for 20 weeks ended 21 may 2017 have declined 1.8%, with total sales decreasing by 1.5%..Continue to expect to deliver a pbt outcome for full year in-line with current market expectations.Accordingly, we continue to expect to deliver a pbt outcome for full year in-line with current market expectations.In period we saw strong performances from our concessions business, benefitting from strong growth in passenger numbers.Implementation of our strategy is progressing well as we make required investments in price, marketing and our offer.Group's balance sheet remains strong.  Full Article

PRESS DIGEST- British Business - Oct 31

Oct 31 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.