Wagamama-owner predicts higher margins as customers dine out

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Reuters UK

(Reuters) -Restaurant Group expects profit margins to improve in the medium-term as more customers dined at its Wagamama restaurants and pubs in the first quarter, sending shares of the company up more than 10% in early trade. The improvement in trading, which the company said had continued into the second quarter, should be relief after investors in February pushed for changes to increase profitability. Shares rose 10.1% to 44.6 pence at 0715 GMT. Restaurant Group said it delivered about 5 million pounds ($6.26 million) of incremental cost savings on an annualised basis, with 70% expected to …

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