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With Whitbread forced to speed up demerger plans , the sector will be scrutinised for other break up candidates. RTN stands out Norges Bank keeps buying DB holds over 5 % , we will clearly have a warm and sunny May , momentum will pick up in the sector . RTN will most likely pay their last Divi. Management loaded up with out of the money options . Their Gastro pub division measured on a peer group and recent pub IPO valuation , would represent on it's own a significant part of current share price . Buy call options if possible Current management will not last . Strong buy PS keep selling the AUD vs USD
How can these be justified? Share price halved and still the ? remuneration committee considers it fair to allot huge share allocations at no cost to the highly paid who have had little success recently. Is this another casualty on the High St/ retail parks. My last two visits were not as expected. Staffed by youngsters - chef? didn't think to cook the extra chillies on the chicken dish. Have sold my holding. This was tip top with growing divis.
Have we created a couch potato society where it is preferable to have a gross fattening pizza delivered - chez nous - rather than face the world outside and have face to face I phones across a table - or as used to be - conversations in a restaurant?
If this is the new world - and I think that this will be the ********* world - then heaven help us. They will all be Humpty Dumpties and will fall off the wall.
Use the restaurants whilst we can.
Non use results in empty shopping malls and millions unemployed.
Yesterday�s results weren�t bad, when you compare the carnage in the food sector. Interpreting today�s results explains why the market �run for the hills�, even though the company is reporting mild bad news. One bad news is how high the operational leverage is, when 1% drop in sales = 15% drop in profits. The positives are maintaining dividends, producing free cash flow of �60m (rather than the suggested �89m), having a �140m real estate portfolio and debt that equates to 5% of sales.
All this is good and shows the quality of the company, but the sector is going through a negative phrase and this negative sentiment will impact the perceptions of good or bad restaurants.
For more on the company, the food sector and share forecast, please follow the link http://bit.ly/2DanABC
If RTN looks steady today am thinking maybe they can renegotiate their rents on the back of empty property on trading estates. Ditto KGF - the only destination shopping you have to do, so pulls in "car footfall"
This share is going nowhere. The restaurant is crap and overpriced, it is stuck in the 80's. The pubs may be going places but the only place Franky and benny is going to is the dogs. I am a shareholder and made money out of trading, but would never hold long term as the price is determined by the market makers and shorters. As I quoted a few days back, good buy signals when paper quoted sell. Almost to the second that a so called expert makes a recommendation, the opposite happens. GLA Keep trading to work those losses off.
At least the discount vouchers are something to look forward to. Mind you, I used 1 from the last batch then the wife put the rest "somewhere safe" never to be seen again. I'm looking forward to the time when I have to book in advance to get a table in my local F&B's
The vouchers are issued in April and for this year the minimum share holding was 250. There are 10 vouchers with 25% off food and wine/drinks. If you hold in a nominee account you need to ask your broker to request the vouuchers. Look at RTN website for info re cut off for your benefits
Some are bearish and some are bullish. I am cautiously bearish but remain bullish for the future.
The Restaurant Group has some good attribute going for them, these are: A great track record on profitability growth.
In 12 years, it has generated cumulative free cash flow of £250m or £21m per year. Today, it FCF is £40m, a yield of 5%.
Freehold properties of £110m account for 17% of market cap. Now, it accounts for 20% given the share price decline.
No pension deficits or schemes, along with manageable debt level (6% of Mkt. cap.), although low debt is prevalent in this industry.
However, the sector is under pressure because of the slowdown in consumer spending, spending habits, food inflation and devaluation of the British Pound, also wage pressure makes this the perfect storm of high input costs = pressure on margins.
Despite my cautious bullishness. 15 analysts are forecasting adjusted EPS of 22 pence, down from 30 pence that give it a perspective PE of 15. Since EPS is falling, a low multiple PE should be attached (Max. 10X), which is why I give a 65% chance for the shares to head towards £2.20, before making a sustainable recovery.
And congratulations to Peel Hunt on their recent broker recommendation a couple of days ago, from 3.50 to 3.00. They were almost smack on, except the wrong way. I know it is a prediction for a year ahead and may well be the outcome, but you would be pretty annoyed if you unloaded at £3.10 on their recommendation on Monday to see this happen today. Just shows you they are not always right. GLA.
As I predicted, price falls on expectation of bad news, then rises when results are bad, but not as bad as they could have been. Net result is share is about the same price but some people have made a killing in the engineered 30 to 40 pence drop. It will be a rough ride ahead with talk about takeovers, but worth buying back at £3.00