LONDON (dpa-AFX) - Restaurant Group plc (RTN.L) reported Wednesday that its fiscal 2020 loss before tax was 127.6 million pounds, wider than prior year's loss of 37.3 million pounds.
Loss per share was 21.3 pence, compared to loss of 8.2 pence per share last year.
Adjusted losses before tax were 87.5 million pounds, compared to profit of 74.5 million pounds a year ago. Adjusted loss per share was 13.4 pence, compared to earnings of 11.9 pence in 2019.
On an IAS 17 basis, adjusted loss before tax was 47.9 million pounds, compared to profit of £74.5 million pounds last year. Adjusted EBITDA was 8.7 million pounds, compared to last year's 136.7 million pounds.
Total revenues in the year were down 57 percent to 459.8 million pounds from 1.07 billion pounds a year ago.
Looking ahead, the company said its short-term outlook is uncertain whilst restrictions are in place.
Separately, the company announced a capital raise of 175 million pounds to enhance liquidity, accelerate deleveraging and support selective growth.
Andy Hornby, Chief Executive Officer, said, 'The Capital raise announced today, alongside the debt re-financing announced last week, represents the last important step in our re-structuring process and provides TRG with the long term flexibility to invest in growing our business. Whilst the sector outlook remains uncertain, and we are mindful of continuing restrictions across the UK, we are confident that the actions announced today will allow us to emerge as one of the long term winners.'
In London, Restaurant Group shares were trading at 114 pence, up 3.4 percent.
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