Finance – Page 138
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NewsNew Vapiano boss expects year of development
Roberto Moretti, the recently appointed chief executive of Vapiano UK, has said the focus for 2019 will be on evolving the brand and bedding in its next two openings.
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NewsTurtle Bay FY sales up 7%
Turtle Bay, the Caribbean restaurant and bar group, has reported sales up 7% to £68.1m for the year to 24 February 2018
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NewsGreggs Q3 lfls up 4.5%
Greggs has reported like-for-like sales up 4.5% for the eight weeks to 24 November with total sale up 9% for the period.
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NewsFuller’s evaluating scope for Bel & Dragon brand
Fuller’s chief executive Simon Emeny has told MCA the group is now evaluating the potential for the Bel & The Dragon brand – including possible conversions within the Fuller’s managed estate.
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NewsETM reports FY turnover up 34.7%
ETM, the 14-strong bar and restaurant group, saw turnover grow 34.7% to £27m in the year to 29 February 2018.
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NewsSwingers secures backing from Cain International
Competitive Socialising, the group behind crazy golf concept Swingers, has attracted investment thought to be c£28m, from investment firm Cain International.
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NewsLfls up 6% at Loungers; evaluates IPO potential
Loungers, the Lounge and Cosy Club concepts operator, has reported a 6% increase in like-for-like sales for the year to 22 April, with revenue growth of 31.9% to £121.1m, as talk of a potential IPO for the business resurfaces.
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NewsTasty directors inject cash as part of refinance
Tasty, the Wildwood operator, has revised its £7m loan facility with Barclays.
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NewsM&B: JVs, virtual brands and surge pricing
Following yesterday’s full-year results announcement, MCA talks to Mitchells & Butlers chief executive Phil Urban. He discusses performance across its suite of brands, and why he sees joint ventures as the smartest form of M&A. He also says developing a virtual brand is on the company’s road map, talks about the rollout of order at table technology and the company’s work on flexing price during busy periods.
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NewsFuller’s H1 managed lfls up 4.1%
Fuller’s has reported like-for-like sales (lfls) in its managed portfolio up 4.1% in the six months to 29 September.
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NewsGrant Thornton faces probe over Pat Val audit role
Patisserie Holdings’ auditor, Grant Thornton, is being investigated by the Financial Reporting Council (FRC).
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NewsHawthorn model could be rolled out across NewRiver’s retail portfolio
Mark Davies, the executive chairman of the 616-strong Hawthorn Leisure pub company, has told MCA that its management skills are already being integrated into the shopping centre portfolio of parent company NewRiver.
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NewsM&B FY lfls up 1.3%
Mitchells & Butlers has this morning announced like-for-like sales the year to 29 September up 1.3%, with a 2.2% rise in the past seven weeks.
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NewsEiG: 2020 is ‘just a line in the sand’
Ei Group chief executive Simon Townsend has told MCA that 2020 is merely a ‘line in the sand’ in terms of its strategy and he expects the managed pub estate to continue growing at up to 125 pubs a year well into the next decade.
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NewsBoost from delivery helps Tortilla LFLs rise 6% YTD
Tortilla has seen like-for-like sales (lfls) increase by c6% across it estate in the year to date, and has plans to take further advantage of the trend for delivery, including its own dark kitchen concept, MCA has learnt.
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NewsMarston’s reports ‘solid’ start to FY19
Marston’s has reported a ‘solid’ performance in the seven weeks since 29 September, with growth in pub like-for-like sales (lfls) and own and licensed beer volumes.
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NewsNewRiver sees £1.7m synergies from Hawthorn in H1
NewRiver says it has unlocked £1.7m of the expected £3m synergies from the acquisition of Hawthorn Leisure.
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NewsSmith to replace Swann as SSP global CEO
SSP Group has announced that Kate Swann is to step down from her role as group chief executive next May, to be replaced by current UK & Ireland chief executive, Simon Smith.
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NewsLeading TRG shareholder against Wagamama deal
One of The Restaurant Group’s (TRG) biggest shareholders has come out in opposition to the company’s proposed £559m acquisition of Wagamama.
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NewsPatisserie Holdings allowed more time to secure debt facility
Patisserie Holdings has reached agreement with its principal lenders to extend the period for agreeing a new debt facility until 18 January.