RTN (Restaurant Group) published its finals today (http://is.gd/FT65mJ), sending the shares down 18.9% to 440p in early trading. Shares were trading at 700p a year ago, and had been moving sideways until January 2016, when they plummeted to 500p. They had recovered to 550p, but today’s news put paid to all that.
Group revenues were up 7.9%, profit before tax was up 11.2%, life-for-like was up 1.5%, and full year dividend was up 13%. What seemed to have spooked the market is the company’s reference to a challenging external environment, and softening of trading in 2016.
RTN is a good quality company, and I am toying with the idea of buying some shares in it.