REG - Restaurant Group PLC - Final Results <Origin Href="QuoteRef">RTN.L</Origin> - Part 2

RestaurantAnnouncement

27/02/2015 07:01

- Part 2: For the preceding part double click  ID:nRSa0272Ga 

                                                                       
                                                                                                                                                
 Final dividend for the 52 weeks ended 29 December 2013 of 8.75p (2012: 7.30p) per share                                        17,373  14,460  
 Interim dividend for the 52 weeks ended 28 December 2014 of 6.10p (2013: 5.25p) per share                                      12,145  10,403  
                                                                                                                                29,518  24,863  
 Special dividend of 3.45p per share paid on 9 July 2014                                                                        6,849   -       
 Total dividends paid in the year                                                                                               36,367  24,863  
                                                                                                                                                
 Proposed final dividend for the 52 weeks ended 28 December 2014 of 9.30p (2013 actual proposed and paid: 8.75p) per share      18,516  17,373  
 
 
The proposed final dividend is subject to approval by shareholders at the
Annual General Meeting to be held on 14 May 2015 and is not recognised as a
liability in these financial statements.  The proposed final dividend payable
reflects the number of shares in issue on 28 December 2014, adjusted for the
1.6m shares owned by the employee benefit trust for which dividends have been
waived. 
 
 9 Reconciliation of profit before tax to cash generated from operations      
                                                                                                
                                                                              2014     2013     
                                                                              £'000    £'000    
                                                                                                
 Profit before tax                                                            84,927   72,685   
 Net finance charges                                                          2,385    2,231    
 Disposal of investment in associate                                          (6,862)  -        
 Share-based payments                                                         2,795    2,947    
 Depreciation                                                                 36,522   32,875   
 Increase in stocks                                                           (445)    (213)    
 (Increase) / decrease in debtors                                             (605)    21       
 Increase in creditors                                                        6,275    6,292    
                                                                                                
 Cash generated from operations                                               124,992  116,838  
 
 
10 Reconciliation of changes in cash to the movement in net debt 
 
                                         2014      2013      
                                         £'000     £'000     
 Net debt:                                                   
 At the beginning of the year            (41,857)  (35,974)  
 Movements in the year:                                      
 Repayments of loan draw downs           10,000    -         
 Non-cash movements in the year          (294)     (311)     
 Cash outflow                            (6,427)   (5,572)   
                                                             
 At the end of the year                  (38,578)  (41,857)  
 
 
 Represented by:                        At 31     Cash flow    Non-cash     At 29 and 30  Cash flow    Non-cash     At 28     
                                        December  movements    movements    December      movements    movements    December  
                                        2012      in the year  in the year  2013          in the year  in the year  2014      
                                        £'000     £'000        £'000        £'000         £'000        £'000        £'000     
 Cash and cash equivalents              12,879    (5,572)      -            7,307         (6,427)      -            880       
 Bank loans falling due after one year  (48,853)  -            (311)        (49,164)      10,000       (294)        (39,458)  
                                                                                                                              
                                                                                                                              
                                        (35,974)  (5,572)      (311)        (41,857)      3,573        (294)        (38,578)  
 
 
11 Basis of preparation 
 
The Group's preliminary announcement and statutory accounts in respect of 2014
have been prepared on a going concern basis. The financial information set out
above does not constitute the Group's statutory accounts for the years ended
28 December 2014 or 29 December 2013 but is derived from those accounts.
Statutory accounts for 2013 have been delivered to the Registrar of Companies
and those for 2014 will be delivered following the Company's Annual General
Meeting. The 2014 statutory accounts are prepared on the basis of the
accounting policies stated in the 2013 statutory accounts. The auditor has
reported on those accounts; their reports were unqualified and unmodified and
did not contain statements under s498 (2) or (3) of the Companies Act 2006. 
 
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