All Finance articles – Page 36
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NewsFormer Just Eat CEO invests in Egypt’s fastest growing delivery company
Former Just Eat CEO David Buttress has made his largest personal business investment to date, in Egyptian food delivery company Elmenus.
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NewsFever-Tree grows global trade amid home decline
UK revenues at Fever-Tree declined by 22% to £103m in 2020, though this mostly was offset by growth in Europe and the US, leading to a more modest global decline of 3%, and total revenues of £252m.
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Analysis & InsightHospitality sales down 54% in 2020
Hospitality lost out on over half of its expected sales in 2020, with back-to-back lockdowns and ever-increasing restrictions costing the sector approximately £200m a day.
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NewsMyers and Ramsay acquire Red Mist Leisure under new pub vehicle
Former Busaba CEO Jason Myers and sector investor David Ramsay have formed a new pub investment vehicle, Red Lion Holdings.
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NewsShareholders inject £13m into Yo!
The parent company of Yo! secured £13m in shareholder funding in September 2020 to repay bank debt.
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NewsFurlough extension under consideration
Chancellor Rishi Sunak could be considering a further furlough extension in the upcoming budget, the Telegraph reports.
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NewsWetherspoon raises £93.7m in new equity
J D Wetherspoon has raised £93.7m investment following a share placing, which it help with low sales upon reopening, and acquisitions in London.
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NewsBurger King drives through recovery
Burger King UK has “recovered significantly” from the impact of coronavirus, due to its ability to trade through lockdowns, and drive through restaurants.
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NewsRooney Anand raises £200m for pub investment vehicle
Former Greene King CEO Rooney Anand has raised £200m to invest in Britain’s pubs sector, Sky News reports.
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NewsGiggling Squid proves ‘off-site trading model’
Giggling Squid is currently in a “strong financial position” and “trading well given its regional bias” as it heads into winter, according to its latest financial accounts.
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NewsBritish Land collects less than half of retail rents in December
British Land has so far collected 46% of due December rents in its retail division, with just 32% of its stores able to trade in some way through the latest lockdown.
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NewsGreggs forecasts £15m losses for 2020
Greggs’ sales fell 44% to £811m in the 2020 financial year, the bakery group has reported.
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NewsLord Sugar challenges Caffe Nero CVA
Lord Sugar’s private commercial property group, Amsprop Investments, has lodged a legal challenge against Caffe Nero’s company voluntary arrangement (CVA), Sky News reports.
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NewsTRG warning over ‘extremely challenging’ outlook under tiers
The Restaurant Group has warned the tiering system will have a “significantly adverse impact” on the group if it remains in place.
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NewsFulham Shore: ‘Historic’ return on capital once normal trading resumes
Fulham Shore will be able to target a “much higher return on capital” when normal trading resumes, due to the ongoing damage to the property and restaurant sectors.
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NewsSSP optimistic for “slow and steady” recovery
Travel hub operator SSP Group has said it remains optimistic in its ability to adapt to and capitalise on the return of the travel market next year despite incurring huge losses in 2020.
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NewsRevolution secures further liquidity as restrictions hit sales
Revolution Bars has reported sales significantly down in the first 24 weeks of FY21 as a result of “severe and constantly evolving trading restrictions.”
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NewsSales up at Wagamama
Wagamama has reported strong results for both eat in and delivery in Q3, seeing an uplift in sales and EBITDA.
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NewsShaftesbury reports loss as pandemic has “significant impact” on portfolio
West End landlord Shaftesbury has reported a loss after tax of £699.5m for the year to 30 September 2020 as the pandemic has a “significant impact” on the business. In the six months to the end of September, the group collected 53% of contracted rents, with 34% deferred or waived and 13% outstanding. Net property income was down 24.2% to £74.3m (2019: £98.0m), with a 3.5% like-for-like decline in rental income, and charges for expected credit losses and impairments of £21.9m.
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NewsBrains up for sale
Welsh brewer and pub operator SA Brain has put itself up for sale, the Sunday Times reports.