Frankie & Benny's owner the Restaurant Group struggled to produce just 1% like-for-like sales growth in Q4, sending its shares down 19.% to 140.8p.

The company said like-for-like sales growth in the final quarter was 'subdued', with full-year like-for-like sales up 5.5.%.

The Restaurant Group said it achieved growth in each month from October to December, despite a background of more demanding comparatives for the final quarter and a tighter consumer market.

Trading during the Christmas period was solid although it anticipates tighter consumer conditions during 2008.

The Restaurant Group said it opened 36 new restaurants during 2007 of which 34 were its own leisure brands and two were concessions. It said initial trading from the new openings has been very encouraging.

Investment bank Investec said it did not expect Restaurant Group's shares to re-rate until there is more visibility on 2008 trading estimates. 'It looks well placed relative to others in the sector - new concessions at Heathrow Terminal 5 will open this year,' said analyst Matthew Gerard, adding a strong cinema schedule in the second half of the year could draw in punters, as Frankie & Benny's outlets are strategically located in leisure parks near to cinemas.