LONDON (dpa-AFX) - Restaurant Group plc (RTN.L) reported Tuesday that its first-half loss before tax on IFRS 16 basis was 234.7 million pounds, compared to last year's loss of 87.7 million pounds on IAS 17 basis.
Loss per share was 38.8 pence, compared to loss of 16.1 pence a year ago.
Adjusted loss before tax was 62.6 million pounds, compared to profit of 28.1 million pounds a year ago. Adjusted loss per share was 11.2 pence, compared to profit of 4.5 pence last year.
Adjusted EBITDA was profit of 18.9 million pounds on IFRS 16 basis, but loss of 18.3 million pounds on IAS 17 basis. The prior year's adjusted EBITDA was profit of 61.4 million pounds.
Revenue declined to 227.2 million pounds from 515.9 million pounds last year.
The results were hurt by lockdown amid Covid-19 pandemic.
However, the company reported that trading performance post-lockdown, for the 11 weeks from July 4 to September 20, with about 90 percent of the retained estate now open has been very encouraging.
Wagamama Like-for-like sales growth was 11 percent, outperformance of 5 percent versus the market.
Further, Leisure LFL sales grew 4 percent, broadly in line with the market, representing strongest trading performance in over five years. Pubs recorded LFL sales growth of 14 percent, exceptional outperformance of 20 percent versus the market.
Concessions LFL sales declined 58 percent, 15 percent ahead of passenger volumes.
Looking ahead, the company said it retains cautious outlook for the short term given ongoing impact of pandemic and government-imposed restrictions.
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