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Restaurant Group Posts H1 Loss On Charges; LFL Sales Up 4.0% - Quick Facts

Restaurant Group plc (RTN.L) said the Group has traded well throughout the first half of the year, delivering 4% like-for-like sales growth, driven by the market outperformance of Wagamama and the Concessions and Pubs businesses.

For the 26 weeks ended 30 June 2019, on a statutory basis, loss before tax was 87.7 million pounds compared to profit before tax of 12.2 million pounds, prior year. Loss per share was 16.05 pence compared to profit of 3.27 pence. The Group recorded an exceptional pre-tax charge of 115.7 million pounds related predominantly to the impairment and onerous lease provisions in the Leisure business. Adjusted profit before tax increased to 28.1 million pounds from 20.7 million pounds, while adjusted earnings per share was 4.5 pence compared to 5.9 pence.

First-half total sales were up 58.2 percent to 515.9 million pounds from 326.1 million pounds, previous year.

The Board proposed an interim dividend of 2.1 pence. The interim dividend will be paid on 10 October 2019 to shareholders on the register on 13 September 2019.

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