spreadbetters bonanza on mab on 10 pound a point as of 29 april hop on baby

Citigroup Buy 391.90 391.90 500.00 520.00 Reiterates

Toying with the year low again.

Interim Management Statement

Pre-close trading update

HALF YEAR RESULTS

Strong food volume growth drives sales progress


Financial performance

- Total revenue £1,113m, up 9.5%
- H1 2015 like-for-like sales growth 1.7%a
- Adjusted operating profit £153m, up 4.1%b
- Adjusted earnings per share 14.4p, up 5.9%b
- Net cash flow £47m (H1 2014 £43m)c

Balance sheet and cash flow

- Capital expenditure up to £94m (H1 2014: £86m), 9 new site openings and 23 conversions
- Net debt reduced from year end to £1.9bn representing 4.4 times EBITDAd

Operational performance

- Like-for-like food volume growth strengthens to +2.9% (H1 2014 +0.2%)
- Operating margin 13.7% (H1 2014 14.5%)e reflects Orchid and volume-driven sales growth
- Staff turnover at historical low of 77% (FY 2014 78%); net promoter scoref up to 65% (FY 2014 63%)
- New EPOS systems live across whole estate
- Orchid integration on track: office closed, synergies created, conversions performing strongly

Finals http://www.moneyam.com/action/news/showArticle?id=5159474

HALF YEAR RESULTS AND BUSINESS UPDATE

(For the 28 weeks ended 9 April 2016)

- Strong earnings growth; focus on driving profitable sales
- Review of strategic options completed - focus on accelerating organic growth
- Clear operational plan in place and already under way


Financial performance

- Total revenue of £1,096m, down 1.5%
- Sales uplifts from invested sitesa in excess of 10% in first year offset by decline in uninvested estate to give overall like-for-like sales decline of 1.6%b
- Adjusted operating profit of £156mc, up 2.0%
- Adjusted operating margin 14.2%c (H1 2015: 13.7%)
- Adjusted earnings per share of 15.7pc, up 9.0%
- Interim dividend of 2.5p approved

Reported results

- Profit before tax: £83m (H1 2015 £75m)
- Basic earnings per share: 18.4p (H1 2015 14.4p)

Balance sheet and cash flow

- Capital expenditure £88m (H1 2015: £94m), including 4 new site openings and 22 conversions
- Free cash flow before exceptional items of £34md (H1 2015: £50m)
- Net debt of £1.86bn representing 4.2 times annualised adjusted EBITDAe (H1 2015 4.4 times)

Phil Urban, Chief Executive, commented:

"In the first half we increased our adjusted earnings by 9.0%c. However, in order to accelerate the trading performance of the group there is much to do in our three priority areas: building a more balanced business; instilling a more commercial culture; and increasing the pace of execution and innovation.

During the last six months we have completed a review of our strategic options. I am very clear that our best route for delivering sustainable returns for our shareholders is through the acceleration of organic growth: to maximise the return on the high-quality assets we own. Our plan, to reshape the estate and innovate in both existing and new offers for our guests, is now well under way and I have every confidence in its success."

First Quarter Trading Update

Trading statement covering the 15 weeks ended 7 January 2017.

Operating performance

Like-for-like sales growth for the year-to-date has increased to 1.7%, continuing to build on the progress reported earlier in the year. Trading over the festive period was particularly strong across all brands, with like-for-like sales growth of 4.7% for the four weeks to 7 January 2017.

Total sales have increased by 2.3% in the year-to-date.

more.....

HALF YEAR RESULTS

(For the 28 weeks ended 8 April 2017)

- Continued like-for-like sales momentum
- Ongoing focus on mitigating inflationary cost headwinds
- Strong progress on all three strategic priorities

Financial performance
- Like-for-like sales a up 1.6% at the half year and up 1.9%a in first 33 weeks of year
- Results impacted by movement of Easter into second half
- Adjusted operating profit of £149mb (H1 2016 £156m)
- Adjusted earnings per share of 15.2pb (H1 2016 15.7p)
- Interim dividend of 2.5p (H1 2016 2.5p)

Strategic progress
- Completed 178 return generating capital projects with focus on premiumisation of the estate
- Improved interaction with social media; guest satisfaction score up 2.4%

Reported results


Total revenue of £1,123m (H1 2016 £1,096m)
Operating profit of £145m (H1 2016 £157m)
Profit before tax of £75m (H1 2016 £83m)

Basic earnings per share of 13.7p (H1 2016 18.4p)

Balance sheet and cash flow
- Capital expenditure of £93m (H1 2016 £88m), including 6 new site openings and 172 conversions and remodels
- Free cash flow of £24mc (H1 2016: £34m)
- Net debt of £1.83bn (H1 2016 £1.86bn) representing 4.3 times adjusted EBITDAd (H1 2016 4.2 times)

Phil Urban, Chief Executive, commented:

"During the half year we have generated sustained sales growth, whilst consistently out-performing the market. This comes from the good progress we have made in our three priority areas: building a more balanced business; instilling a more commercial culture; and driving an innovation agenda.

As previously announced, margins have been adversely impacted by increased costs, most notably from wage inflation, property costs and exchange rate movements. In order to partially mitigate these costs we have been working hard to encourage our guests to trade up and increase spend per head for a more premium experience whilst challenging our General Managers to run their businesses as cost effectively as possible.

Overall, we are pleased with the turnaround in our sales trajectory and relative performance against the market. In a challenging cost and consumer environment we will continue to focus on our three priority areas."

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Third Quarter Trading Update

Shore Capital Hold 248.40 - - Reiterates

Peel Hunt Add 248.40 260.00 260.00 Reiterates

Liberum Capital Sell 248.40 210.00 210.00 Reiterates

Finished up nearly 21%!

A portion of that is down to my "Trouble" going into O'Neills every Friday and helping them out with her China's.

Pre-Close Trading Update

Trading Statement Thursday 10th.

First Quarter Trading Update