Restaurant Group (RTN)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

45.68p
   
  • Change Today:
      0.22p
  • 52 Week High: 166.40
  • 52 Week Low: 23.00
  • Currency: UK Pounds
  • Shares Issued: 589.80m
  • Volume: 1,687,231
  • Market Cap: £269.42m
  • RiskGrade: 852

Restaurant Group raises ?57m in placing to help weather Covid crisis

By Michele Maatouk

Date: Thursday 09 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Wagamama owner Restaurant Group has raised ?57min a placing of 98.3 million shares to help it weather the coronavirus pandemic.
The company, which also owns Chiquito's and Frankie & Benny's, placed the shares at 58p each. This is a 3.2% discount to the closing share price of 59.90p on Wednesday.

"The placing is expected to provide sufficient liquidity for the company to deal with this challenging environment and enable it to continue to operate, where possible, through this extraordinary period whilst ensuring that it is well positioned for the eventual normalisation," Restaurant Group said in a statement late on Wednesday, when it announced the placing.

The company also said on Wednesday that in a scenario where all of its restaurants and pubs remain closed until the end of June, it expects total sales to decline around 50% in 2020.

"With the government indicating that social distancing measures will remain in force post lockdown, we believe that there will be a slow recovery in footfall during the rest of this financial year.

"We therefore assume that we would be extremely disciplined in the phased reopening of our restaurants through July to December 2020 and would expect to reopen around 400 of our 600 restaurants and pubs across that period, potentially with some restrictions on operations immediately following lockdown."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RTN Market Data

Currency UK Pounds
Share Price 45.68p
Change Today 0.22p
% Change 0.48 %
52 Week High 166.40
52 Week Low 23.00
Volume 1,687,231
Shares Issued 589.80m
Market Cap £269.42m
RiskGrade 852

RTN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.61% above the market average65.61% above the market average65.61% above the market average65.61% above the market average65.61% above the market average
31.43% above the sector average31.43% above the sector average31.43% above the sector average31.43% above the sector average31.43% above the sector average
Price Trend
90.32% below the market average90.32% below the market average90.32% below the market average90.32% below the market average90.32% below the market average
75.34% below the sector average75.34% below the sector average75.34% below the sector average75.34% below the sector average75.34% below the sector average
Income
3.85% below the market average3.85% below the market average3.85% below the market average3.85% below the market average3.85% below the market average
18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average
Growth
54.06% above the market average54.06% above the market average54.06% above the market average54.06% above the market average54.06% above the market average
77.14% above the sector average77.14% above the sector average77.14% above the sector average77.14% above the sector average77.14% above the sector average

What The Brokers Say

Strong Buy 11
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 14
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RTN Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-19 06-Jun-19
Paid 10-Oct-19 05-Jul-19
Amount 2.10p 1.47p

Trades for 22-May-2020

Time Volume / Share Price
16:35 284,043 @ 45.68p
16:29 2,112 @ 45.88p
16:29 110 @ 46.00p
16:29 1,729 @ 46.00p
16:29 9,024 @ 46.00p

RTN Key Personnel

CFO Kirk Davis
CEO Andy C Hornby

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