Finance – Page 116
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Analysis & InsightJ.P. Morgan Cazenove on Marston’s and M&B
After strong outperformance in 2019, we are moving MARS and MAB to Neutral, from Overweight, as the current share prices have now “caught up” to reflect the fundamentals, in our estimation. MAB’s operational performance inflected during 2019, and MARS largely resolved fears around its leverage and dividend sustainability. In addition, ...
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NewsCity Pub Group counts cost of ‘frustrating’ Christmas
The City Pub Group has lamented a number of “frustrating” factors which dampened its festive trading, including the December general election and industrial action on South East trains.
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Analysis & InsightBerenberg on City Pub Group
This morning, The City Pub Group (CPC) released a full-year trading update, noting that due to a series of largely one-off issues, 2019 earnings are expected to be modestly below prior expectations. While we only reduce our 2019 sales numbers by c1%, the impact of operational gearing means that our 2019 EPS forecasts come down by c12%. The impact on outer years is far more modest and we continue to believe in CPC’s expansion plans – so while we reduce our price target to 220p, we maintain our Buy rating.
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Analysis & InsightGoodbody on Whitbread
Whitbread - Thoughts into Q3 update, any confirmation of improving trends important
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Analysis & InsightJ.P. Morgan and Goodbody on Mitchells & Butlers
Robust Q120 LFL represents comparison-adjusted acceleration
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NewsTakeaway.com approves Just Eat takeover
Takeaway.com shareholders have approved its all-share merger with FTSE 100-listed takeaway platform Just Eat.
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NewsGiggling Squid nudges into profit
Giggling Squid has moved into the black, reporting total profit after tax of £221,123 for the year ending 31 March 2019.
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NewsMasala Zone operator grows profits
MW Eat, the Indian restaurant operator, grew total profits by 16% £3.51m, for the full year ending 31 March 2019.
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NewsGreggs marks ‘exceptional year’ with £7m staff bonus
Greggs is a make a one-off £7m bonus payment to employees in recognition of an “exceptional year”.
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NewsRoxy Leisure secures £7.5m growth backing from Foresight
Social entertainment bar group Roxy Leisure has received a £7.5m investment from Foresight Group to help it support its expansion.
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NewsChilango CVA approved
Chilango’s CVA proposals have been approved with the support of the majority of its creditors and shareholders.
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NewsHickory’s receives £13m funding from ThinCats
Hickory’s Smokehouse has received a £13m funding package from alternative lender ThinCats to accelerate its roll out of restaurants.
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NewsArc Inspirations reports record festive trading
Arc Inspirations has reported a record festive trading period, including the biggest ever individual sales day and week in the group’s 20-year history.
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NewsBarkby completes reverse takeover of Workshop Coffee
The Barkby Group, the premium gastropub operator, has completed the reverse takeover of a group of companies controlled by Charles Dickson, including coffee roaster and wholesaler Workshop.
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NewsJoffe family business narrows losses
Laurel Canyon Ventures, the Joffe family business, narrowed its losses to £52,593 in the year to 31 March 2019.
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NewsAnglian Country Inns profits down after restructure
Anglian Country Inns has increased sales by 5% to £11.6m, driven by a new site the Lytton Arms.
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NewsRola Wala founder buys business out of administration
Rola Wala founder Mark Wright has bought back the brand and assets of the Indian wrap concept after it went into administration with liabilities of £511,585.
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Analysis & Insight
Jamie Rollo on pubs under the new Government
UK pubs have been relatively resilient over the past few years, with industry LfL sales running up around 1%.
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NewsBreakfast Club appoints McVeigh, lfls up 4.3%
The Breakfast Club has appointed Draft House founder Charlie McVeigh as chairman, his first official role since selling the pub chain to Brewdog.
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NewsJust Eat tell shareholders to reject Prosus’ revised offer
Just Eat have recommended shareholders reject Prosus’ revised takeover offer, saying it still significantly undervalues the delivery marketplace company.