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

RestaurantAnnouncement

09/03/2016 07:00

- Part 2: For the preceding part double click  ID:nRSI4692Ra 

basic earnings per share              199,408,183  200,647,834  
                                                                                                                      
 Total profit for the year (£'000)                                                          68,886       66,999       
                                                                                                                      
 Basic earnings per share for the year (pence)                                              34.55        33.39        
                                                                                                                      
 Total profit for the year (£'000)                                                          68,886       66,999       
 Effect of non-trading items on earnings for the year (£'000)                               (1,488)      (6,892)      
 Earnings excluding non-trading items (£'000)                                               67,398       60,107       
                                                                                                                      
 Adjusted earnings per share (pence)                                                        33.80        29.96        
                                                                                                                      
                                                                                                                      
 b) Diluted earnings per share:                                                                                       
                                                                                                                      
 Weighted average ordinary shares for the purposes of basic earnings per share              199,408,183  200,647,834  
                                                                                                                      
 Effect of dilutive potential ordinary shares:                                                                        
 Dilutive shares to be issued in respect of options granted under the share option schemes  488,349      275,381      
 Shares held by employee benefit trust                                                      1,262,608    -            
                                                                                                                      
                                                                                            201,159,140  200,923,215  
                                                                                                                      
 Diluted earnings per share (pence)                                                         34.24        33.35        
 Adjusted diluted earnings per share (pence)                                                33.50        29.92        
 
 
 8 Dividend                                                                                                                                  
                                                                                                                             2015    2014    
                                                                                                                             £'000   £'000   
 Amounts recognised as distributions to equity holders during the year:                                                              
                                                                                                                                             
 Final dividend for the 52 weeks ended 28 December 2014 of 9.30p (2013: 8.75p) per share                                     18,550  17,373  
 Interim dividend for the 52 weeks ended 27 December 2015 of 6.80p (2014: 6.10p) per share                                   13,565  12,145  
                                                                                                                             32,115  29,518  
 Special dividend of 3.45p per share paid on 9 July 2014                                                                     -       6,849   
 Total dividends paid in the year                                                                                            32,115  36,367  
                                                                                                                                             
 Proposed final dividend for the 52 weeks ended 27 December 2015 of 10.60p (2014 actual proposed and paid: 9.30p) per share  21,176  18,550  
 
 
The proposed final dividend is subject to approval by shareholders at the
Annual General Meeting to be held on 12 May 2016 and is not recognised as a
liability in these financial statements.  The proposed final dividend payable
reflects the number of shares in issue on 27 December 2015, adjusted for the
1.2m shares owned by the employee benefit trust for which dividends have been
waived. 
 
 9  Reconciliation of profit before tax to cash generated from operations  
                                                                                                 
                                                                           2015     2014         
                                                                           £'000    £'000        
                                                                                                 
 Profit before tax                                                         86,845   84,927       
 Net finance charges                                                       2,046    2,385        
 Disposal of investment in associate                                       -        (6,862)      
 Share-based payments                                                      2,900    2,795        
 Depreciation                                                              39,100   36,522       
 Increase in stocks                                                        (859)    (445)        
 Increase in debtors                                                       (5,633)  (605)        
 Increase in creditors                                                     11,136   6,275        
                                                                                                 
 Cash generated from operations                                            135,535  124,992      
 
 
 10 Reconciliation of changes in cash to the movement in net debt      
                                                                       2015      2014          
                                                                       £'000     £'000         
 Net debt:                                                                                     
 At the beginning of the year                                          (38,578)  (41,857)      
 Movements in the year:                                                                        
 Repayments of loan draw downs                                         8,000     10,000        
 Non-cash movements in the year                                        931       (294)         
 Cash inflow / (outflow)                                               1,265     (6,427)       
                                                                                               
 At the end of the year                                                (28,382)  (38,578)      
 
 
 Represented by:                        At 30     Cash flow    Non-cash     At 28 and 29  Cash flow    Non-cash     At 27     
                                        December  movements    movements    December      movements    movements    December  
                                        2013      in the year  in the year  2014          in the year  in the year  2015      
                                        £'000     £'000        £'000        £'000         £'000        £'000        £'000     
 Cash and cash equivalents              7,307     (6,427)      -            880           2,103        -            2,983     
 Overdraft                              -         -            -            -             (838)        -            (838)     
 Bank loans falling due after one year  (49,164)  10,000       (294)        (39,458)      8,000        931          (30,527)  
                                                                                                                              
                                                                                                                              
                                        (41,857)  3,573        (294)        (38,578)      9,265        931          (28,382)  
 
 
 11 Basis of preparation      
 
 
The Group's preliminary announcement and statutory accounts in respect of 2015
have been prepared on the going concern basis. The financial information set
out above does not constitute the Group's statutory accounts for the years
ended 27 December 2015 or 28 December 2014 but is derived from those accounts.
Statutory accounts for 2014 have been delivered to the Registrar of Companies
and those for 2015 will be delivered following the Company's Annual General
Meeting. The 2015 statutory accounts are prepared on the basis of the
accounting policies stated in the 2014 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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