News

Weakness in the Restaurant Group's share price tempted non-executive director John Jackson to triple his stake in the Frankie and Benny's restaurant chain owner.

Jackson, an associate of Richard Branson and chairman of a host of Virgin subsidiaries, bought 200,000 shares at 104.2p a time in the Restaurant Group, paying a total of £208,400.

He now has 300,000 shares in the firm.

Shares in the Restaurant Group, which also owns the Mexican-themed restaurant Chiquito and Garfunkel's, a British and American-style restaurant targeted at tourists, have fallen in line with a worsening economic outlook in recent months.

Jackson bought 20,000 shares at 146p a time in March.

While the company's share price has fallen sharply over the past couple of months, as yet its trading performance has shown little sign of being affected in the way some of its rivals have.

Back in August, it said pre-tax profit rose to £22.1m for the 26 weeks ending 29 June 2008 compared with £17.2m last year on sales that rose to £203.2m from £172m last year.

The company said it expected to open 30 new restaurants before the end of 2008.

"Whilst the economic outlook remains challenging, I am confident that, absent a further significant deterioration in the UK economy, we will deliver another year of good progress," non-executive chairman Alan Jackson said.

John Jackson worked with the Body Shop from 1988 to 1993, before leaving to head Richard Branson's unsuccessful bid for the National Lottery. He is also a non-executive director at the chocolate maker Thorntons.
Top Director Buys

Smiths Group (SMIN)
Director name: Mr Philip Bowman
Amount purchased: 47,058 @ 756.60p
Value: £356,041

Restaurant Group (RTN)
Director name: Mr John Jackson
Amount purchased: 200,000 @ 104.20p
Value: £208,400

MW TOPS Ltd Red Part Pref Shs EUR (TOPE)
Director name: Mr Duncan Ford
Amount purchased: 25,000 @ € 8.27
Value: € 206,750

Rolls-Royce Group (RR.)
Director name: Mr Peter John Byrom
Amount purchased: 40,000 @ 275.80p
Value: £110,320

Smiths Group (SMIN)
Director name: Mr John Langston
Amount purchased: 13,372 @ 756.60p
Value: £101,173

MW TOPS Ltd Part Red Pref Shs USD (TOPU)
Director name: Mr Duncan Ford
Amount purchased: 10,000 @ $8.26
Value: $82,620

Smiths Group (SMIN)
Director name: Mr Paul R Cox
Amount purchased: 9,705 @ 756.60p
Value: £73,428

Domino Printing (DNO)
Director name: Mr Peter John Byrom
Amount purchased: 32,000 @ 211.00p
Value: £67,520

Lighthouse Group (LGT)
Director name: Mr Allan Rosengren
Amount purchased: 645,000 @ 10.00p
Value: £64,500

Netplay TV (NPT)
Director name: Mr Andrew Christopher Lapping
Amount purchased: 300,000 @ 18.90p
Value: £56,700
Top Director Sells

None