Finance – Page 12
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NewsDRG posts record turnover as it prepares for UK expansion
Scottish restaurant operator Di Maggio’s Restaurant Group (DRG) has posted a record turnover of £49.52m for the year ending April 2024, up £3.68m year-on-year
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NewsNightcap acquires Brighton i360 viewing tower
The Sarah Willingham-led late night group will operate the viewing tower and hospitality areas of the attraction, in a “fresh start” for the i360
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NewsWagamama issues £330m in senior debt
As part of a refinancing and new capital structure, The Restaurant Group has been split up into three separate divisions. A source said there were no imminent plans to break up the group
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NewsDiageo faces profit hit over Trump tariffs
The drinks company is under pressure from new tariffs and has removed medium-term guidance due to uncertainty in many of its key markets
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NewsVarious Eateries encouraged by growing momentum
The group reported 9% revenue growth in FY24 and a solid start to FY25, including a strong festive period that reinforced confidence in its trajectory
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NewsDaisy Green grows turnover by 27%
The Aussie-style cafe-restaurant operator, which trades from 17 venues in London, generated turnover of £22.7m in FY24 and looks to continue investing in new sites
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NewsIncipio Group achieves 21% like-for-like growth
The bar group has also made a series of senior appointments ahead of its anticipated launch at a 39,000 sq ft space in London’s Olympia this year
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NewsTortilla secures new investor
The fast-casual Mexican restaurant group has announced that long-term backer Quilvest Capital Partners has sold its 20% stake to Auctor Group, as part of the winding down of its fund.
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NewsAdmiral Taverns sees profits up on last year
The community pub group reported an increase in underlying EBITDA for the year to 26 May 2024, to £59.7m, which it expects to exceed in the current financial year, supported by strong sales and investment in its estate.
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Weekend PressLuxury Dubai restaurant chain eyes London float
Fundamental Hospitality, founded by chairman Evgeny Kuzin, is in the early stages of gearing up to go public, This is Money reports.
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Weekend PressDiageo looks for a new lease of life as sales go flat
As half-year results loom, the drinks giant’s shares are at a five-year low. Can new leadership and cost-cutting measures revive fortunes? The Times reports
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NewsLoungers takeover deal voted through
The all-day operator has reached agreement with Fortress on an increased and final offer valuing Loungers at £354.4m, with 93.5% of shareholders voting in favour
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NewsMission Mars revenue jumps 43%
The operator of Albert’s Schloss and Rudy’s Pizza Napoletana achieved total revenue of £31.6m in the three-month period ended 29 December, accompanied by strong festive trading
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NewsLane7 records 26% revenue uplift
The experiential operator reached £42m turnover in FY24, with four UK sites and further international expansion planned for 2025
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NewsUKHospitality calls for growth plan to ignite foundation economy
UKHospitality is urging the Chancellor, Rachel Reeves, to fast-track a growth plan for hospitality and other key sectors that can deliver rapid economic recovery and community investment
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NewsHeart with Smart acquired for £10m
The decision to sell to private equity firm Directional Capital was primarily based on overall value and return to the creditors as a whole, according to Interpath
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NewsButcombe sees strong Christmas and London trade
Christmas like-for-like sales were up 23%, while London pubs were saw 27% growth in the second half of the year
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NewsSSP Group sees UK sales up 9%
Positive trading momentum continued into the first quarter of the financial year, buoyed by strong air passenger numbers in the UK as well as less industrial action
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NewsVagabond toasts bumper Christmas
The wine bar group reported a 16.3% surge in like-for-like sales in the six weeks to 23 December, with plans for further investment and expansion
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NewsHotel Chocolat’s cafés boost growth
The premium chocolatier’s Velvetiser Café format recorded a 33% year-on-year sales increase