Anyone holding this share, any comment? It recommended by few brokers.

Final Results

· Operations strongly cash generative and net debt further reduced, by £5.6m to £36m

· Roll out continues
o 28 new sites opened in the period
o 28-35 new sites targeted for 2013

· Over 700 new jobs created in 2012

· Strong current trading, with total sales up 14% and like-for-like sales at 6.5% for the eight weeks to 24 February 2013

12 month high on results.

Recession over ?

N+1 Singer Hold 471.65 430.00 430.00 Downgrades

Citigroup Neutral 0.00 500.00 500.00 Downgrades

Canaccord Genuity Buy 494.25 482.40 540.00 540.00 Reiterates

AGM Statement

AGM Statement

At the AGM of The Restaurant Group plc ("the Group"), to be held later today, Alan Jackson, Chairman, will make the following statement, which comprises the Group's Interim Management Statement as required by the FCA Disclosure and Transparency Rules:


Current trading
Trading for the first 19 weeks has been strong with total sales 11% ahead of the previous year and like-for-like sales 4.5% ahead reflecting another period of outperformance.

During the first 19 weeks we have opened 2 new Frankie & Benny's restaurants and 1 new Pub restaurant. These sites are trading well and are set to deliver good returns.

In total we expect to open between 30 and 35 new restaurants this year, most of which will be in the second half and at least half of these will be Frankie and Benny's. Looking further forward the new site pipeline for 2014 and beyond is better than we have seen for a number of years. The performance of our new Coast to Coast restaurants is particularly pleasing. Coast to Coast is both distinct and scalable and we expect to open a further 4-5 sites in 2013.

Balance sheet and financial position
The Group's balance sheet remains strong and continues to benefit from good cash generation from our operations.

Subject to approval at the AGM, the final dividend in respect of the year ended 30 December 2012 of 7.3p per share (making the full year dividend in respect of 2012 a total of 11.8p per share) will be paid on 10 July 2013 to shareholders on the Register on 21 June 2013 - this represents a 12% increase on the previous full year's dividend.

Outlook
The Group is trading in line with expectations, margins have improved and we are on track to report a very satisfactory first half performance.

N+1 Singer Buy 503.50 430.00 515.00 Upgrades

Canaccord Genuity Buy 503.50 540.00 540.00 Reiterates

Liberum Capital Buy 503.50 412.00 - Reiterates

Numis Reduce 504.00 485.90 400.00 400.00 Retains

Closed here - been in since march.

Interim Results

The Restaurant Group plc ("TRG" or "the Group") operates over 400 restaurants and pub restaurants throughout the UK. Its principal trading brands are Frankie & Benny's, Chiquito and Garfunkel's. In addition it operates a Pub restaurant business and a Concessions business which trades principally at major UK airports.

· Excellent performance across the whole business:

- Total revenue increased 11.5% to £280m (2012: £252m)
- Like-for-like sales increased by 5%
- EBITDA increased by 13% to £46.9m (2012: £41.7m)
- Profit before tax increased by 15% to £30.0m (2012: £26.1m)
- EPS rose 16% to 11.2p (2012: 9.6p)


· TRG is strongly cash generative; operating cash flow up 22% at £47.1m (2012: £38.5m)

· Net debt further reduced to £27.1m (2012: £38.4m)

· Interim dividend increased by 17% to 5.25p per share (2012: 4.5p)

· Continuing new site development

- Seven new sites opened in the first half year
- A further four new sites opened to date in the second half year
- 30-35 new sites for 2013 as a whole

· Current trading strong, with year to date like-for-like sales growth for the 34 weeks to 25 August 2013 at 4.25%

· The Board is confident of another year of continued good progress in 2013

Ex dividend Wednesday 5.25p.

have hummed and haed over these for a while, though i used to trade them regularly ...... anyway, i have now taken the plunge again on the basis of a growing "feelgood factor" this is the sort of medium priced restaurant group that should fare well

Interim Management Statement

Continued good trading, in line with expectations

The Restaurant Group plc ("TRG" or "the Group") provides the following update on trading for the 45 weeks to 10 November 2013 together with a commentary on the outlook for the remainder of the financial year (52 weeks to 29 December 2013).


Current trading
TRG has continued to make good progress and, after 45 weeks trade in 2013, total sales are 9.1% ahead of the comparable period in 2012 and like-for-like sales are 3.5% ahead, in line with expectations.

We have opened 21 new sites in 2013 to date. These openings are performing well and are set to deliver strong returns. Across the Group we expect to open a total of between 33 and 35 new restaurants in 2013. We anticipate opening more new restaurants in 2014 than in 2013.


Balance sheet & financing
The Group's balance sheet position remains very solid with continuing strong cash generation, which allows the Group to maintain investment in our existing portfolio and open new restaurants.


Outlook
Since our interim announcement at the end of August, the Group has traded well, with like-for-like sales growth in both September and October. Although the like-for-like comparatives are much tougher during November, we are confident that the business will continue to make good progress during the remainder of the year and we are on track to meet expectations for the full year.

Notification of post-close update

The Restaurant Group plc will release a post-close update on Thursday, 9 January 2014.

Broken above its trading range to a new high @596p.

either sp is getting overheated ahead of the figures, or some know a lot more than we all do

good figures +
Canaccord Genuity raises price target to 680p from 650p; rating buy
Panmure raises target price to 684p from 600p; rating buy

Numis Add 615.75 595.00 - 660.00 Retains

Jefferies note today:
"After 12 years, CEO Andrew Page has announced his retirement. The company's market cap has grown from £75m to greater than £1.2bn during his tenure.
The Restaurant Group's more than decade long success is due in no small part to the strategy and focus implemented by the top team, led by CEO Andrew Page. What was formerly City Centre Restaurants was in a sorry state when the new team arrived, with a stretched balance sheet and broad range of underperforming brands. Some continuity will remain with chairman Alan Jackson in place (he was the first in to City Centre) and Andrew Page will advise the chairman for two days a week.
Focus on cash generation, cash returns and high barriers to entry. The Restaurant Group has consistently focused on cash, both generation and returns. The strategic exit from the challenging high street environment in 2006 enabled the company to avoid the worst of the recent vouchering and promotional activity. Its trading locations are typically high barrier to entry: leisure/retail parks, airport concessions and fringe-of-town. Significant re-rating, absolutely and relative to the listed peer group. Two years ago the shares were rated at the lower end of peers on a lease adjusted EV/EBITDAR multiple at some 7x prospective. That multiple has now expanded to 10x and is now at the upper end of peer valuation multiples.
Jefferies view. The Restaurant Group remains one of our favourite businesses in the sector but we argue that the shares are unlikely to enjoy a further re-rating or material earnings upgrades until a new CEO is recruited. We particularly like the high and consistent returns, double-digit EPS growth rate, recent acceleration of the self-funded openings programme and balance sheet strength.
Valuation/Risks We lift our PT to 685p to maintain the 15% premium rating to the peer group (which has enjoyed a recent mini re-rating). We have not changed our estimates after the positive recent post close trading update. Risks: changes in UK employment rates, increased competition on leisure retail parks, uncertainty over new top management."

i remain a fan and see this as one of my core holdings - at least for 2014!

JP Morgan Cazenove Overweight 0.00 625.50 665.00 750.00 Reiterates