Finance – Page 115
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NewsTossed operator improved EBITDA ahead of Vital re-brand
Tossed has revealed a substantial improvement in its adjusted EBITDA to £300k in its report for the year ended 28 March 2019 released today.
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NewsInnventure sales up 14.5%
Seven-strong gastropub operator Innventure has reported a year on year sales uplift of 14.5% for the year ended 29 June 2019.
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NewsThe Vurger Co secures £1.4m investment, new Brighton site
Vegan burger brand The Vurger Co is to open its first restaurant outside London after securing a £1.4m investment.
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NewsWagamama sale cost £55m in admin expenses
The sale process of Wagamama to The Restaurant Group cost £55.2m in exceptional administrative expenses, newly released accounts reveal.
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NewsJust Eat Takeaway.com listed on LSE
Shares in Just Eat Takeaway.com will commence trading on the London Stock Exchange under ‘JET’ at 9am CET today.
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News
Searcys festive sales up 2.5%
Restaurant operator and events caterer Searcys has reported festive sales up 2.5% year on year.
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NewsJust Eat to become second partner to McDonald’s
Just Eat has agreed to become a nationwide with McDonald’s in the UK and Ireland.
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NewsCMA to ‘unexpectedly’ probe Takeaway.com-Just Eat deal
The Takeaway.com takeover of Just Eat could be investigated by the Competition and Markets Authority (CMA), the group has said.
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NewsHandmade Burger Co in administration again with all 18 sites closed
Handmade Burger Co. has gone into administration for a second time, with all 18 restaurants closing.
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NewsPunch buys package of seven pubs from Heartstone Inns
Punch has completed the acquisition of seven pubs from Heartstone Inns.
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NewsHawthorn Leisure: ‘Plenty more opportunities in pub sector’
Hawthorn Leisure CEO Mark Davies has told MCA he believes there will be plenty more opportunities for acquisitions in the pub market following the bumper M&A year of 2019.
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NewsWhitbread reports “solid” Q3 trading performance
Whitbread has reported a “solid” third quarter performance in its trading update released today.
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NewsFinn Cap on Revolution Bars Group
Finn Cap comments on RBG trading update for H1 FY20, the 26 weeks ended 28 December 2019.
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NewsPeel Hunt on Revolution Bars Group
Peel Hunt comments on RBG trading update for H1 FY20, the 26 weeks ended 28 December 2019.
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Analysis & InsightGoodbody on TRG
Restaurant Group will report a Q4 trading update in late January. At this point last year RTN gave full year LFL’s for the group and total sales. We forecast FY LFL sales growth of -0.8% in the Legacy business with LFL sales growth of 8.8% for Wagamama UK (implying a group FY LFL of just above 2%). As a reminder group LFL growth was +3.7% in the first 34 weeks.
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Analysis & Insight
Goodbody on Marston’s
Management were quite open at their FY results a few weeks ago that it was disappointed with FY19 trading and would be working hard to remedy it in FY20. It will be interesting to see if they can deliver better YoY growth this Christmas particularly given its comp is easier ...
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Analysis & Insight
Goodbody on Coffer Peach
The Coffer Peach data for the key 6 week Christmas trading period was released this morning. Sector like for likes were up 2.5%. Both Pubs and Restaurants saw a good LFL trading performance with restaurants +2.3% and pubs +2.7%. Within this wet led pubs slightly outperformed food led. Total sales growth for the cohort was +5.4%. The tracker added a new data point for bars which saw strong growth of 3.9%. The director of Coffer Corp leisure noted that “there is a post election sense of optimism”.
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Analysis & Insight
Goodbody on Mitchells & Butlers
Like for like sales growth for the first 14 weeks of the year to the 4th of January was +2.6% (versus our H1 expectation of c.2.2%) with food +3.0% and Drink +1.8%. Implies growth of +3.5% in the most recent 7 weeks (Food +4% & Drink +2.7%). Total sales growth for the 14 weeks is +2.6%. The festive period showed good LFL sales growth of +5.6% over the three weeks, with +6.5% growth across the 5 key festive days.
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Analysis & Insight
Goodbody on Domino’s Q4 update
We believe investors will begin to focus more keenly on the health of the core UK and ROI business given DOM’s decision to exit its International markets. For H219 we forecast +3.0% LFL sales growth ex-splits, and +1% incl splits, in the key UK division. At the Q3 stage UK LFL ex-splits was +3.0% (+1.4% incl splits) so we essentially expect a continuation of trends, although we would note the comp is more difficult in Q4 so the group will need a good finish to the year.
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NewsBoxpark grows profits by 22%
Boxpark has grown profits by 22% to £1.6m in the year to April 2019, MCA can reveal.