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

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